# Ohio Admin. Code 901:14-2-07: Rule 901:14-2-07. Financial responsibility

> Ohio · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_07

## Section

- **Citation:** Ohio Admin. Code 901:14-2-07
- **Heading:** Rule 901:14-2-07. Financial responsibility
- **Jurisdiction:** Ohio
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Ohio Administrative Code / Agency 901:14 / Chapter 901:14-2 / Rule 901:14-2-07

## Text

119.03 (A) Any licensed processor who purchases raw, unprocessed hemp plant material shall meet the standards of financial responsibility required under this rule. (B) Each licensed processor having sold equal to or less than one hundred thousand dollars of raw, unprocessed hemp plant material in the previous calendar year shall have and maintain a surety bond in the amount of ten thousand dollars. Each licensed processor having sold more than one hundred thousand dollars of raw, unprocessed hemp plant material in the previous calendar year shall have and maintain a surety bond in the amount of twenty thousand dollars. (C) In order to demonstrate the financial responsibility required in paragraph (B) of this rule, the licensed processor shall file a surety bond issued by a corporate surety company that is authorized to do business under the laws of this state with the department. The surety bond shall be subject to redemption by the state only upon a suspension, revocation, or insolvency of a licensed processor for the purpose of repaying the licensed processor's obligations to creditors which are licensed cultivators pursuant to Chapter 901:14-1 of the Administrative Code. Redemption shall only be for an amount equal to the claims made by creditors which are licensed cultivators. Regardless of the amount of claims made against the bond and the number of periods the bond covers, the maximum liability under the bond is the penal sum. The bond shall be continuous. The bond shall, however, include a provision for cancellation, subject to a notice period of thirty days with notice provided to the processor and to the department. Supplemental Information Authorized By: 928.03 Amplifies: 928.02 , 928.04 2/12/2026

## Nearby sections

- [Ohio Admin. Code 901:14-2-01 Rule 901:14-2-01. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_01.md)
- [Ohio Admin. Code 901:14-2-02 Rule 901:14-2-02. Processing License](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_02.md)
- [Ohio Admin. Code 901:14-2-03 Rule 901:14-2-03. Processing application](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_03.md)
- [Ohio Admin. Code 901:14-2-04 Rule 901:14-2-04. Fees](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_04.md)
- [Ohio Admin. Code 901:14-2-05 Rule 901:14-2-05. Background checks](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_05.md)
- [Ohio Admin. Code 901:14-2-06 Rule 901:14-2-06. Land use restrictions for licensed processors](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_06.md)
- [Ohio Admin. Code 901:14-2-07 Rule 901:14-2-07. Financial responsibility](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_07.md)
- [Ohio Admin. Code 901:14-2-08 Rule 901:14-2-08. Inspection and sampling](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_08.md)
- [Ohio Admin. Code 901:14-2-09 Rule 901:14-2-09. Food safety regulations](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_09.md)
- [Ohio Admin. Code 901:14-2-10 Rule 901:14-2-10. Sources](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_10.md)
- [Ohio Admin. Code 901:14-2-11 Rule 901:14-2-11. Extraction operational plan](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_11.md)
- [Ohio Admin. Code 901:14-2-12 Rule 901:14-2-12. Extraction methods and training](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_12.md)
- [Ohio Admin. Code 901:14-2-13 Rule 901:14-2-13. Laboratory testing](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_13.md)
- [Ohio Admin. Code 901:14-2-14 Rule 901:14-2-14. Testing laboratories](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_901_14_2_07. Check the current official text before relying on it. Not legal advice.