Ohio Admin. Code 3901-4-03 - Retention of long-term care insurance education records

(A) Purpose

The purpose of this rule is to establish a record retention requirement for insurers that are to maintain records of their agents' initial training and continuing education concerning long-term care insurance under section 3923.443 of the Revised Code.

(B) Authority

This rule is promulgated pursuant to the authority stated in sections 3901.041, 3923.44, and 3923.47 of the Revised Code.

(C) Pursuant to section 3923.443 of the Revised Code, an insurer is required to obtain and maintain records that its agents have completed the initial training and continuing education requirements concerning long-term care insurance and partnership program policies. The superintendent may audit an insurer's records annually to verify compliance. Records required under section 3923.443 of the Revised Code or this rule must be maintained for not less than four years from the date of the particular initial training or continuing education.

(D) Severability

If any portion of this rule or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the rule or related rules which can be given effect without the invalid portion or application, and to this end the provisions of this rule are severable.

Replaces: 3901-4-03

Notes

Ohio Admin. Code 3901-4-03

Effective: 11/16/2023
Five Year Review (FYR) Dates: 08/31/2028
Promulgated Under: 119.03
Statutory Authority: 3901.041, 3923.44, 3923.47
Rule Amplifies: 3923.443
Prior Effective Dates: 12/03/2009