Ohio Surety Bail Agent Practice Exam

Which section of the Revised Code outlines the notice of termination for insurance agents?

1. Section 3905.83

2. Section 3905.95

3. Section 3905.14

4. Section 3905.21

The correct answer is: Section 3905.14

The section of the Revised Code that outlines the notice of termination for insurance agents is Section 3905.14. This section specifically details the requirements and procedures that must be followed when terminating the appointment of an insurance agent. It ensures that both the insurance agent and the appointing insurer understand their rights and responsibilities in the termination process, which is crucial for maintaining proper compliance within the industry. This legislative framework is important as it provides clarity and protection for both parties involved. In terms of relevance, Sections 3905.83, 3905.95, and 3905.21 pertain to different aspects of insurance regulation that do not directly address the notice of termination for insurance agents. Being familiar with the specifics of Section 3905.14 is valuable for professionals in this field, as it holds essential guidelines for managing agent terminations effectively.