Ohio § 3916.02
Full text of Ohio Ohio Revised Code § 3916.02, with citation guidance and answers to common questions.
§ 3916.02.
(A) Notwithstanding division (C) of this section, no person shall operate in this state
as a viatical settlement provider or viatical settlement broker without first having
obtained a license from the superintendent of insurance and, if the owner of the policy
to be viaticated is not a resident of this state, from the comparable official of
the state of residence of the owner if that state issues licenses for viatical settlement
providers or viatical settlement brokers. (B)(1) If there is more than one owner on a single policy and the owners are residents of
different states, the viatical settlement contract shall be governed by the law of
the state in which the owner having the largest percentage ownership of the policy
resides or, if the owners hold equal ownership, the state of residence of one owner
agreed upon in writing by all owners. (2) If the viator is a resident of this state, all agreements to be signed by the viator
shall provide exclusive jurisdiction to courts of this state and the laws of this
state shall govern the agreements. Nothing in the agreements shall abrogate the viator's right to a trial by jury. (C)(1) A person who represents the viator and is not compensated directly or indirectly
by the viatical settlement provider or viatical settlement purchaser, who is licensed
as an attorney, certified public accountant, or financial planner accredited by a
nationally recognized accreditation agency may negotiate viatical settlement contracts
on behalf of a viator without obtaining a license pursuant to division (A) of this
section. (2) An individual insurance agent, in good standing, who has been licensed as a resident
or nonresident insurance agent with a life line of authority in this state for at
least five years may operate as a viatical settlement broker without obtaining a license
pursuant to division (A) of this section if the viatical settlement broker activities
of the insurance agent are incidental to the insurance agent's insurance business
activities.
Frequently Asked Questions About Ohio § 3916.02
What does Ohio Revised Code § 3916.02 cover?
Section 3916.02 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 3916.02?
A common citation format is "Ohio Revised Code § 3916.02" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 3916.02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.