6-1406. Books and records of premium finance
company; access to records
A. A licensee shall maintain books, accounts and records as prescribed by the
superintendent that will enable the superintendent to determine whether the licensee is
complying with the provisions of this article.
B. A licensee shall preserve its books, accounts and records of premium finance
transactions for at least three years after making the final entry with respect to any
premium finance agreement. The preservation of records in any form authorized by the
superintendent constitutes compliance with this section.
C. Every licensee shall observe generally accepted accounting principles and
practices.
D. A licensee shall make any books, accounts and records that are kept outside of
this state available to the superintendent in this state not more than three business
days after demand or the superintendent may choose to perform the examination or
investigation at the office of the licensee located outside of this state.
E. For purposes of this article, the superintendent or his duly authorized
representatives shall have access to the offices and places of business, files, safes and
vaults of all licensees regarding that business or the subject matter of any examination,
investigation or hearing during business hours.
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