Ohio Code 3905.30 – Resident and nonresident surplus lines broker’s license
(A) As used in sections 3905.30 to 3905.38 of the Revised Code:
Terms Used In Ohio Code 3905.30
- Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Ohio Code 3905.01
- Contract: A legal written agreement that becomes binding when signed.
- Home state: means the state or territory of the United States, including the District of Columbia, in which an insurance agent maintains the insurance agent's principal place of residence or principal place of business and is licensed to act as an insurance agent. See Ohio Code 3905.01
- 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
- Negotiate: means to confer directly with, or offer advice directly to, a purchaser or prospective purchaser of a particular contract of insurance with respect to the substantive benefits, terms, or conditions of the contract, provided the person that is conferring or offering advice either sells insurance or obtains insurance from insurers for purchasers. See Ohio Code 3905.01
- Person: means an individual or a business entity. See Ohio Code 3905.01
- Property: means real and personal property. See Ohio Code 1.59
- state: means the state of Ohio. See Ohio Code 1.59
- superintendent of insurance: means the superintendent of insurance of this state. See Ohio Code 3905.01
(1) Notwithstanding section 3905.01 of the Revised Code, “home state” means the state in which an insured maintains its principal place of business or, in the case of an individual, the individual’s principal residence except in the case of either of the following:
(a) If one hundred per cent of the insured risk is located out of the state in which an insured maintains its principal place of business or principal residence as described in division (A)(1)(a) of this section, “home state” means the state to which the greatest percentage of the insured’s taxable premium for that insurance contract is allocated.
(b) If more than one insured from an affiliated group are named insureds on a single unauthorized insurance contract, “home state” means the state in which the member of the affiliated group that has the largest percentage of premium attributed to it under such insurance contract.
(2) “Principal place of business” means the state where the insured maintains the insured’s headquarters and where the insured’s high-level officers direct, control, and coordinate the business activities of the insured.
(B) The superintendent of insurance may issue a surplus lines broker’s license to any natural person who is a resident of this or any other state or to a business entity that is organized under the laws of this or any other state. To be eligible for a resident surplus lines broker’s license, a person must have both a property license and a casualty license. To be eligible for a nonresident surplus lines broker’s license, a person must hold an active surplus lines broker license in the person’s home state. A nonresident surplus lines broker shall obtain a nonresident license with a property and casualty line of authority in this state if the broker is or will be personally performing the due diligence requirements under section 3905.33 of the Revised Code.
(C) (1) A surplus lines broker’s license permits the person named in the license to negotiate for and obtain insurance, other than life insurance, on property or persons in this state from both of the following:
(a) Insurers not authorized to transact business in this state ;
(b) An insurer designated as a domestic surplus lines insurer pursuant to section 3905.332 of the Revised Code.
(2) Each such license expires on the thirty-first day of January next after the year in which it is issued, and may be then renewed.