Fines & Penalties
- Anyone violating this section is subject to the following fines levied by the commissioner:
- $200 for the first offense;
- $500 for the second offense; and
- $1,000 for the third and subsequent offenses.
- The penalty won't exceed $1,000 for any one offense.
These fines will be deposited in the Insurance Fund.
- Separate penalties won't be imposed for each piece of
printed material failing to conform to those requirements.
- The penalty may be reversed if the commissioner finds
that a failure to comply is due to circumstances beyond the licensee's
control, and happened despite ordinary care being exercised and without
willful neglect.
- A licensee seeking to be relieved of a penalty must
give the department a statement and supporting facts on which the licensee
bases its claims for relief. This does not apply to persons or entities that
don't have to be licensed by the department.
- This section also does not apply to general
advertisements of motor clubs that merely list insurance products as one of
several services offered, but give no details about the insurance products.
Nor does it apply to life insurance policy illustrations or cost indexes.
- This section becomes operative January 1, 1997.
Back to Top | Next
Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.
