Loading chat...
OH HB95
Bill
Status
3/7/2023
Primary Sponsor
Gary Click
Click for details
AI Summary
-
Amends Ohio Revised Code section 926.18 to revise rules for depositor claims against the agricultural commodity depositors fund when a licensed handler fails to pay for commodities.
-
Extends the pricing window for full fund liability from 30 days to 45 days before license suspension and from 90 days to 365 days for deferred payment agreements.
-
Increases fund liability for delayed price agreements from 2 years to an unlimited timeframe prior to handler license suspension.
-
Changes liability percentages for claims outside specified circumstances from 100% to 175% of the first $10,000 of loss and 80% of remaining loss.
-
Limits aggregate recovery to 100% of depositor's loss across all remedies, with depositors required to reimburse the fund if total recovery exceeds this amount.
Legislative Description
Regards claims against agricultural commodity handlers
Commerce
Last Action
Referred to committee: Agriculture
5/7/2024