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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1355.09 | Recordkeeping, test failure, security breach.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1355 Regulatory Sandbox Program
 
Effective:
March 14, 2023
Latest Legislation:
Senate Bill 249 - 134th General Assembly
PDF:
Download Authenticated PDF
 

(A) A sandbox participant shall retain records, documents, and data produced in the ordinary course of business regarding a novel financial product or service tested in the regulatory sandbox.

(B) If a novel financial product or service fails before the end of the testing period, the sandbox participant shall notify the superintendent of financial institutions and report on actions taken to ensure consumers have not been harmed as a result of the failure of the novel financial product or service.

(C) A sandbox participant is subject to the requirements of section 1349.19 of the Revised Code and shall notify the superintendent of any breach of the security of the system as defined in section 1349.19 of the Revised Code.

Last updated January 17, 2023 at 5:46 PM

Available Versions of this Section