20-1243.06. Record keeping

A. Insurers, managing general agents, business entities and insurance producers shall maintain, or be able to make available to the director, records of the information collected from the consumer and other information used in making the recommendations that were the basis for insurance transactions for at least five years or until the next regular examination by the insurance regulatory authority of its state of domicile, whichever is later, after the insurance transaction is completed by the insurer. An insurer may maintain documentation on behalf of an insurance producer.

B. Records required to be maintained by this article may be maintained in paper, photographic, microprocess, magnetic, mechanical or electronic media or by any process that accurately reproduces the actual document.

20-1243.06. Record keeping

A. Insurers, managing general agents, business entities and insurance producers shall maintain, or be able to make available to the director, records of the information collected from the consumer and other information used in making the recommendations that were the basis for insurance transactions for at least five years or until the next regular examination by the insurance regulatory authority of its state of domicile, whichever is later, after the insurance transaction is completed by the insurer. An insurer may maintain documentation on behalf of an insurance producer.

B. Records required to be maintained by this article may be maintained in paper, photographic, microprocess, magnetic, mechanical or electronic media or by any process that accurately reproduces the actual document.