Ohio Administrative Code
Title 1301:6 - Division of Securities
Chapter 1301:6-3 - Registration of Securities; Licensing
Section 1301:6-3-471 - Ohio investor recovery fund
Universal Citation: OH Admin Code 1301:6-3-471
Current through all regulations passed and filed through September 16, 2024
(A) Reviewing applications for restitution assistance awards
(1)
The
claimant needs to produce a copy of a valid identification showing Ohio
residency of the claimant or the victim on the date the pecuniary loss was
incurred and the following to demonstrate that the claimant and loss are
properly identified:
(a)
The court order: or
(b)
The
administrative order.
(2)
If the claimant
is a surviving spouse or a dependent child of the deceased victim, the claimant
needs to produce a death certificate for the victim and proof of marriage or
parental relationship with the deceased victim.
(3)
The application
may be filed in the office of the division in person, through the division's
Internet website, or by first class or certified mail.
(4)
The division will
review all applications to ensure that the applications are complete.
(a)
Only claims filed
using the application for restitution assistance form published by the division
will be accepted.
(b)
If an application is not signed and complete, the
application will be returned to the claimant with a brief statement of the
additional necessary information.
(c)
The decision by
the division as to the completeness of the application is
final.
(5)
The division will receive all complete applications
filed in compliance with this chapter.
(6)
Upon receipt of a
complete application, the division will promptly begin processing the
application.
(7)
If additional information or documentation from the
claimant is necessary to determine eligibility, the division will provide a
written statement to the claimant requesting the additional information, either
via e-mail at the address listed in the application, or via U.S. regular
mail.
(8)
The claimant has to supply the requested information
and documentation to the division within sixty days from date the request is
sent.
(B) Approvals, Denials and Extensions
(1)
The Division will
deny the application if:
(a)
The claimant does not furnish a timely, complete
application or provide additional information within sixty days from the
delivery of the request;
(b)
The claimant knowingly files an application for
restitution assistance or documents supporting the application that contain
false, incomplete, or misleading information;
(c)
The claimant
committed, attempted to commit, participated in or assisted in the violations
set forth in the final order;
(d)
The claimant
profited or would have profited from the securities violation;
or
(e)
Additional time is not granted by the division for good
cause.
(2)
If multiple claims are filed for the same victim,
restitution will only be awarded based on the first timely, complete
application received by the division. The division may review multiple claims
filed by the same applicant based on inadvertent omissions or newly discovered
evidence if all claims are timely filed.
(3)
The division may
grant an extension to a claimant who files an application more than one hundred
eighty days after the date of the final administrative or court order but prior
to two years from the date of the final administrative or court order if one of
the following applies:
(a)
The claimant was suffering from a physical or mental
condition that interfered with the ability to timely file an
application;
(b)
The final administrative or court order was the subject
of an appeal; or
(c)
Other good cause shown to the division.
(4)
Claims
will only be eligible from administrative or court orders issued after
September 30, 2021.
Disclaimer: These regulations may not be the most recent version. Ohio may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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