§ 31A-6a-106. Recordkeeping requirements.

(1)

(a) All service contract providers shall keep accurate accounts, books, and records concerning transactions regulated under this chapter.

(b) A service contract provider's accounts, books, and records shall include:

(i) copies of all service contracts issued;

(ii) the name and address of each service contract holder; and

(iii) claims files.

(c) Service contract providers shall retain all records pertaining to each service contract holder for at least three years after the specified period of coverage has expired.

(2) A provider discontinuing business in this state shall maintain its records until it furnishes the commissioner satisfactory proof that it has discharged all obligations to contract holders in this state.

(3) Service contract providers shall make all accounts, books, and records concerning transactions regulated under this chapter or other pertinent chapters available to the commissioner for the purpose of examination as provided in Sections 31A-2-203 and 31A-2-204.

Enacted by Chapter 203, 1992 General Session