- A provider shall keep accurate accounts, books, and records concerning transactions regulated under this part 16.
- A provider’s accounts, books, and records must include:
- Copies of each type of service contract sold;
- The name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder;
- A list of the locations where service contracts are marketed, sold, or offered for sale; and
- Written claims files containing at least the dates and descriptions of all claims related to the service contracts.
- Except as set forth in subsection (5) of this section, a provider shall retain all records required under this section for at least one year after the specified period of coverage has expired.
- The records required under this section may be, but are not required to be, maintained in electronic form or other record-keeping technology. If the records are maintained in other than hard copy, the records must be capable of duplication to legible hard copy at the request of the commissioner.
- A provider discontinuing business in this state shall maintain its records until it has discharged all obligations to contract holders in this state.
Source: L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 749, § 2, effective January 1, 2015.