L&HOhiomedium
Under the Ohio Insurance Code, who establishes the maximum interest rate that an Ohio life insurer may charge on policy loans?
The Ohio Department of Insurance (ODI)
BThe U.S. Treasury Department
CThe Ohio Attorney General
DThe National Association of Insurance Commissioners (NAIC)
Why this is the answer
The Ohio Department of Insurance (ODI), through its Superintendent, establishes the maximum policy loan interest rate, which insurers must disclose in the policy and apply uniformly to similarly situated policyholders.
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