Ohio Code 3905.40 – Fees paid to superintendent of insurance
There shall be paid to the superintendent of insurance the following fees:
Terms Used In Ohio Code 3905.40
- agent: means any person that, in order to sell, solicit, or negotiate insurance, is required to be licensed under the laws of this state, including limited lines insurance agents and surplus line brokers. See Ohio Code 3905.01
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Bond: includes an undertaking. See Ohio Code 1.02
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Insurance: means any of the lines of authority set forth in Chapter 1739. See Ohio Code 3905.01
- License: means the authority issued by the superintendent to a person to act as an insurance agent for the lines of authority specified, but that does not create any actual, apparent, or inherent authority in the person to represent or commit an insurer. See Ohio Code 3905.01
- Person: means an individual or a business entity. See Ohio Code 3905.01
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- state: means the state of Ohio. See Ohio Code 1.59
(A) Each insurance company doing business in this state shall pay:
(1) For filing a copy of its charter or deed of settlement, two hundred fifty dollars;
(2) For filing each statement, one hundred seventy-five dollars;
(3) For each certificate of authority or license, one hundred seventy-five, and for each certified copy thereof, five dollars;
(4) For each copy of a paper filed in the superintendent’s office, twenty cents per page;
(5) For issuing certificates of deposits or certified copies thereof, five dollars for the first certificate or copy and one dollar for each additional certificate or copy;
(6) For issuing certificates of compliance or certified copies thereof, sixty dollars;
(7) For affixing the seal of office and certifying documents, other than those enumerated herein, two dollars;
(8) For each agent appointment and each annual renewal of an agent appointment, not more than twenty dollars.
(B) Each domestic life insurance company doing business in this state shall pay for annual valuation of its policies, one cent on every one thousand dollars of insurance.
(C) Each applicant for licensure as an insurance agent except applicants for licensure as surety bail bond agents, surplus line brokers, portable electronics insurance vendors, and self-service storage facilities shall pay ten dollars for each line of authority requested. Fees collected under this division shall be credited to the department of insurance operating fund created in section 3901.021 of the Revised Code.
(D) Each domestic mutual life insurance company shall pay for verifying that any amendment to its articles of incorporation was regularly adopted, two hundred fifty dollars with each application for verification. Any such amendment shall be considered to have been regularly adopted when approved by the affirmative vote of two-thirds of the policyholders present in person or by proxy at any annual meeting of policyholders or at a special meeting of policyholders called for that purpose.
(E) Each insurance agent doing business in this state shall pay a biennial license renewal fee of twenty-five dollars, except the following insurance agents are not required to pay that license renewal fee:
(1) Individual resident agents who have met their continuing education requirements under section 3905.481 of the Revised Code;
(2) Surety bail bond agents;
(3) Surplus line brokers;
(4) Portable electronics insurance vendors;
(5) Self-service storage facilities ;
(6) Limited lines travel insurance agents.
(F) Each applicant for licensure as a portable electronics insurance vendor with a portable electronics insurance limited lines license and each licensed vendor doing business in this state shall pay the following fees prescribed by the superintendent:
(1) For vendors engaged in portable electronic transactions at more than ten locations in this state, an application fee not to exceed five thousand dollars for an initial license and a biennial license renewal fee not to exceed two thousand five hundred dollars for each renewal thereafter;
(2) For vendors engaged in portable electronic transactions at ten or fewer locations in this state, an application fee not to exceed three thousand dollars for an initial license and a biennial license renewal fee not to exceed one thousand dollars for each renewal thereafter.
(G) Each applicant for l icensure as a limited lines travel insurance agent shall pay an application fee p rescribed by the superintendent not to exceed fifty dollars for an initial license and a biennial license renewal fee p rescribed by the superintendent not to exceed fifty dollars for each renewal thereafter.
(H) Each applicant for a self-service storage insurance limited lines license and each holder of such a license in this state shall pay an application fee not to exceed ten dollars for an initial license and a biennial license renewal fee not to exceed twenty-five dollars for each renewal thereafter.
(I) All fees collected by the superintendent under this section except any fees collected under divisions (A)(2), (3), and (6) of this section shall be credited to the department of insurance operating fund created under section 3901.021 of the Revised Code.