Ohio § 3959.11 Written agreement to act as administrator between the administrator and the plan sponsor

Ohio Statutes

§ 3959.11 — Written agreement to act as administrator between the administrator and the plan sponsor

Ohio § 3959.11

Title 39Insurance

Ch. 3959Third-party Administrators

This text of Ohio § 3959.11 (Written agreement to act as administrator between the administrator and the plan sponsor) 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. § 3959.11 (2026).

Text

(A)No person may act as an administrator without a written agreement between the administrator and the plan sponsor. Such written agreement shall be retained as part of the official records of the administrator for the duration of the agreement and for five years thereafter. Each such agreement shall contain, at a minimum, all of the following information:

(1)The term of the agreement;

(2)An explanation of the services to be performed by the administrator;

(3)The method and rate of compensation to be paid by the plan sponsor to the administrator for services rendered;

(4)Provisions for the renewal and termination of the agreement.

(B)Every administrator shall maintain in its principal office or branch office, if any, for the duration of the agreement with the plan sponsor, custo

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(A) No person may act as an administrator without a written agreement between the administrator and the plan sponsor. Such written agreement shall be retained as part of the official records of the administrator for the duration of the agreement and for five years thereafter. Each such agreement shall contain, at a minimum, all of the following information:

(1) The term of the agreement;

(2) An explanation of the services to be performed by the administrator;

(3) The method and rate of compensation to be paid by the plan sponsor to the administrator for services rendered;

(4) Provisions for the renewal and termination of the agreement.

(B) Every administrator shall maintain in its principal office or branch office, if any, for the duration of the agreement with the plan sponsor, customary books and records of all transactions and information relative to covered persons or beneficiaries.

(C) Each administrator duly licensed under sections3959.01to3959.16of the Revised Code shall at all times maintain any required insurance coverage or bond as provided for and mandated by the "Employee Retirement and Income Security Act of 1974," 88 Stat. 829, 29 U.S.C. 1001, as amended.