Ohio § 3901.078 Penalty

Ohio Statutes

§ 3901.078 — Penalty

Ohio § 3901.078

Title 39Insurance

Ch. 3901Superintendent Of Insurance

This text of Ohio § 3901.078 (Penalty) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 3901.078 (2026).

Text

(A)If the superintendent finds, after notice and an opportunity for a hearing conducted in accordance with Chapter 119. of the Revised Code, that an insurer has failed to file a corporate governance annual disclosure as required by division (A) of section3901.073of the Revised Code, the superintendent shall assess a civil penalty against the insurer.

(1)The amount of the civil penalty imposed by division (A) of this section shall be one hundred dollars for each day the CGAD is past due, provided that the total penalty shall not exceed the sum of ten thousand dollars.

(2)All sums collected from such penalties shall be deposited in the general revenue fund.

(B)The superintendent may reduce the amount of the civil penalty if the insurer demonstrates to the superintendent that the impos

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(A) If the superintendent finds, after notice and an opportunity for a hearing conducted in accordance with Chapter 119. of the Revised Code, that an insurer has failed to file a corporate governance annual disclosure as required by division (A) of section3901.073of the Revised Code, the superintendent shall assess a civil penalty against the insurer.

(1) The amount of the civil penalty imposed by division (A) of this section shall be one hundred dollars for each day the CGAD is past due, provided that the total penalty shall not exceed the sum of ten thousand dollars.

(2) All sums collected from such penalties shall be deposited in the general revenue fund.

(B) The superintendent may reduce the amount of the civil penalty if the insurer demonstrates to the superintendent that the imposition of the penalty would constitute a financial hardship to the insurer.