Ohio Code 1355.04 – Input from applicable agencies
The superintendent of financial institutions shall consult with all applicable agencies before admitting a person into the regulatory sandbox. This consultation may include seeking information about any of the following:
Terms Used In Ohio Code 1355.04
- Applicable agency: means a department or agency of the state to which both of the following apply:
(1) It is authorized to regulate certain types of business activity in this state and persons engaged in such business, including the issuance of licenses or other types of authorization. See Ohio Code 1355.01
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Regulatory sandbox: means the program established by this chapter under which a person is licensed to temporarily test a novel financial product or service on a limited basis without otherwise being licensed or authorized to act under the laws of this state. See Ohio Code 1355.01
(A) Whether the applicable agency previously has either:
(1) Issued a license or other authorization to the applicant;
(2) Investigated, sanctioned, or pursued legal action against the applicant.
(B) Whether the applicant could obtain a license or other authorization from an applicable agency after exiting the regulatory sandbox.
Last updated January 17, 2023 at 5:45 PM