Ohio Code 3911.24 – Revocation of license for misrepresentation
Upon the conviction of any person, firm, association, or life insurance company for violating section 3911.23 of the Revised Code, the superintendent of insurance shall revoke the license of such person, firm, association, or life insurance company for not less than one year.
Terms Used In Ohio Code 3911.24
- Conviction: A judgement of guilt against a criminal defendant.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- state: means the state of Ohio. See Ohio Code 1.59
The superintendent, when the superintendent has good reason to believe that any company or association writing life insurance in this state, on any plan, is knowingly permitting any of its agents or representatives to violate section 3911.23 of the Revised Code, shall give such company or association notice of a hearing in accordance with Chapter 119 of the Revised Code, upon the charge of knowingly permitting said section to be violated, and, if the superintendent finds said company or association guilty of the offense, the superintendent shall revoke its license.