§ 3959.12 — Suspension, revocation or nonrenewal of license

Ohio § 3959.12

• Jurisdiction: Ohio
• Title 39: Insurance
• Ch. 3959: Third-party Administrators

Text

(A) Any license issued under sections3959.01to3959.16of the Revised Code may be suspended for a period not to exceed two years, revoked, or not renewed by the superintendent of insurance after notice to the licensee and hearing in accordance with Chapter 119. of the Revised Code. The superintendent may suspend, revoke, or refuse to renew a license if upon investigation and proof the superintendent finds that the licensee has done any of the following:

(1) Knowingly violated any provision of sections3959.01to3959.16or3959.20of the Revised Code or any rule promulgated by the superintendent;

(2) Knowingly made a material misstatement in the application for the license;

(3) Obtained or attempted to obtain a license through misrepresentation or fraud;

(4) Misappropriated or converted to the licensee's own use or improperly withheld insurance company premiums or contributions held in a fiduciary capacity, excluding, however, any interest earnings received by the administrator as disclosed in writing by the administrator to the plan sponsor;

(5) In the transaction of business under the license, used fraudulent, coercive, or dishonest practices;

(6) Failed to appear without reasonable cause or excuse in response to a subpoena, examination, warrant, or other order lawfully issued by the superintendent;

(7) Is affiliated with or under the same general management or interlocking directorate or ownership of another administrator that transacts business in this state and is not licensed under sections3959.01to3959.16of the Revised Code;

(8) Had a license suspended, revoked, or not renewed in any other state, district, territory, or province on grounds identical to those stated in sections3959.01to3959.16of the Revised Code;

(9) Been convicted of a financially related felony;

(10) Failed to report a felony conviction as required under section3959.13of the Revised Code.

(B) Upon receipt of notice of the order of suspension in accordance with sections119.05and119.07of the Revised Code, the licensee shall promptly deliver the license to the superintendent, unless the order of suspension is appealed under section119.12of the Revised Code.

(C) Any person whose license is revoked or whose application is denied pursuant to sections3959.01to3959.16of the Revised Code is ineligible to apply for an administrators license for two years.

(D) The superintendent may impose a monetary fine against a licensee if, upon investigation and after notice and opportunity for hearing in accordance with Chapter 119. of the Revised Code, the superintendent finds that the licensee has done either of the following:

(1) Committed fraud or engaged in any illegal or dishonest activity in connection with the administration of pharmacy benefit management services;

(2) Violated any provision of section3959.111of the Revised Code or any rule adopted by the superintendent pursuant to or to implement that section.

Last updated October 3, 2023 at 12:32 PM

Legislative History

Effective: October 3, 2023 | Latest Legislation: House Bill 33 - 135th General Assembly