Latest Legislation:
House Bill 454 - 126th General Assembly
(A) The superintendent of financial institutions may assess civil penalties against a licensee or other person for each day a violation, unsafe or unsound practice, or breach continues as follows:
(1) The superintendent may assess a civil penalty of not more than five hundred dollars per day if the licensee or other person violates any of the following:
(a) Any law or rule;
(b) Any order issued pursuant to section 1315.15 or 1315.151 of the Revised Code;
(c) Any condition imposed in writing by the superintendent in connection with granting any application by the licensee or other person;
(d) A written agreement between the licensee or other person and the superintendent.
(2) The superintendent may assess a civil penalty of not more than one thousand dollars per day if both of the following apply:
(a) The licensee or other person does any of the following:
(i) Commits any violation listed in division (A)(1) of this section;
(ii) Recklessly engages in an unsafe or unsound practice;
(iii) Breaches any fiduciary duty.
(b) The violation, unsafe or unsound practice, or breach is part of a pattern of misconduct or causes or is likely to cause more than a minimal loss to the licensee or other person.
(B) A notice of assessment of a civil penalty shall include all of the following:
(1) A statement of the violation or violations or unsafe or unsound practice or practices or breach or breaches alleged;
(2) A statement of the facts supporting the assessment of the civil penalty;
(3) Notice that the licensee or other person is entitled to a hearing, in accordance with section 1315.17 of the Revised Code to determine whether a civil penalty should be assessed against the licensee or other person, if the licensee or other person requests the hearing within thirty days of service of the notice of assessment of a civil penalty;
(4) Notice that, if the licensee or other person makes a timely request for a hearing, the licensee or other person may appear at the hearing in person, by attorney, or by presenting positions, arguments, and contentions in writing, and at the hearing may present evidence and examine witnesses for and against the licensee or other person;
(5) Notice that failure of the licensee or other person to make a timely request for a hearing to determine whether a civil penalty should be assessed against the licensee or other person, or to appear at the hearing, in person, by attorney, or by writing, is consent by the licensee or other person to the assessment of the civil penalty.
(C) The superintendent may assess a civil penalty if either of the following applies:
(1) The licensee or other person consents to the assessment of the civil penalty.
(2) Upon the record of the hearing described in division (B) of this section the superintendent finds a violation, unsafe or unsound practice, or breach has been established.
(D) In determining the amount of the civil penalty to be assessed pursuant to this section, the superintendent shall consider all of the following:
(1) The seriousness of and the risk posed by the violation, unsafe or unsound practice, or breach;
(2) The licensee's or other person's good faith efforts to prevent the violation, unsafe or unsound practice, or breach;
(3) The licensee's or other person's history regarding violations, unsafe or unsound practices, and breaches;
(4) The licensee's or other person's financial resources;
(5) Any other matters justice may require.
(E) Any licensee's or other person assessed a civil penalty pursuant to this section shall pay the civil penalty to the superintendent, and the superintendent shall deposit any civil penalty paid into the state treasury to the credit of the general revenue fund.
Available Versions of this Section
- April 6, 2007 – House Bill 454 - 126th General Assembly [ View April 6, 2007 Version ]
On September 30, 2022 in the Senate:
- Chaptered by Secretary of State. Chapter 985, Statutes of 2022.
- Approved by the Governor.
On September 6, 2022 in the Senate:
- Enrolled and presented to the Governor at 3:30 p.m.
On August 25, 2022 in the Senate:
- Assembly amendments concurred in. (Ayes 31. Noes 9. Page 5135.) Ordered to engrossing and enrolling.
On August 22, 2022 in the Senate:
- In Senate. Concurrence in Assembly amendments pending.
On August 22, 2022 in the Assembly:
- Read third time. Passed. (Ayes 51. Noes 18. Page 6024.) Ordered to the Senate.
On August 18, 2022 in the Assembly:
- Ordered to third reading.
- Read third time and amended. (Ayes 53. Noes 18. Page 5932.)
On August 15, 2022 in the Assembly:
- Read second time. Ordered to third reading.
On August 11, 2022 in the Assembly:
- From committee: Do pass. (Ayes 12. Noes 4.) (August 11).
On August 3, 2022 in the Assembly:
- August 3 set for first hearing. Placed on suspense file.
On June 30, 2022 in the Assembly:
- Read second time and amended. Re-referred to Com. on APPR.
On June 29, 2022 in the Assembly:
- From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 11. Noes 3.) (June 28).
On June 13, 2022 in the Assembly:
- From committee with author's amendments. Read second time and amended. Re-referred to Com. on HEALTH.
On June 2, 2022 in the Assembly:
- Referred to Com. on HEALTH.
On May 25, 2022 in the Assembly:
- In Assembly. Read first time. Held at Desk.
On May 24, 2022 in the Senate:
- Read third time. Passed. (Ayes 27. Noes 9. Page 3879.) Ordered to the Assembly.
On May 23, 2022 in the Senate:
- Read second time. Ordered to third reading.
On May 19, 2022 in the Senate:
- Read second time and amended. Ordered to second reading.
- From committee: Do pass as amended. (Ayes 5. Noes 2. Page 3772.) (May 19).
On May 17, 2022 in the Senate:
- Set for hearing May 19.
On May 16, 2022 in the Senate:
- May 16 hearing: Placed on APPR suspense file.
On May 6, 2022 in the Senate:
- Set for hearing May 16.
On April 28, 2022 in the Senate:
- Read second time and amended. Re-referred to Com. on APPR.
On April 27, 2022 in the Senate:
- From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 1. Page 3512.) (April 26).
On April 21, 2022 in the Senate:
- From committee: Do pass and re-refer to Com. on JUD. (Ayes 8. Noes 1. Page 3461.) (April 20). Re-referred to Com. on JUD.
On April 5, 2022 in the Senate:
- Set for hearing April 26 in JUD. pending receipt.
On March 29, 2022 in the Senate:
- Set for hearing April 20.
On February 7, 2022 in the Senate:
- Joint Rule 55 suspended. (Ayes 31. Noes 6. Page 2880.)
- (Ayes 31. Noes 6.)
- Art. IV. Sec. 8(a) of the Constitution dispensed with.
On January 26, 2022 in the Senate:
- Referred to Coms. on HEALTH and JUD.
On January 20, 2022 in the Senate:
- From printer. May be acted upon on or after February 19.
On January 19, 2022 in the Senate:
- Introduced. Read first time. To Com. on RLS. for assignment. To print.
August 25, 2022: Unfinished Business SB858 Wiener Concurrence
- Yeas: 31
- Nays: 9
August 22, 2022: SB 858 Wiener Senate Third Reading By Aguiar-Curry
- Yeas: 51
- Nays: 18
- Present/NV: 11
August 18, 2022: SB 858 Wiener Senate Third Reading By Aguiar-Curry Amendment Set #1
- Yeas: 53
- Nays: 18
- Present/NV: 9
August 11, 2022: Do pass.
- Yeas: 12
- Nays: 4
June 28, 2022: Do pass as amended and be re-referred to the Committee on [Appropriations]
- Yeas: 11
- Nays: 3
- Present/NV: 1
May 24, 2022: Senate 3rd Reading SB858 Wiener
- Yeas: 27
- Nays: 9
- Present/NV: 4
May 19, 2022: Do pass as amended
- Yeas: 5
- Nays: 2
May 16, 2022: Placed on suspense file
- Yeas: 6
- Present/NV: 1
April 26, 2022: Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]
- Yeas: 8
- Nays: 1
- Present/NV: 2
April 20, 2022: Do pass, but first be re-referred to the Committee on [Judiciary]
- Yeas: 8
- Nays: 1
- Present/NV: 2
Participants:
- {{ teamMember.name ? teamMember.name : teamMember.email | nl2br | trustHTML }}
Nothing posted by your team.