688C.240 - Retention of records and documents.
1. Ā A person required to be licensed under this chapter shall retain for 5 years copies of all:
(a) Contracts, underwriting documents, forms of policy and applications, from the date of the proposal, offer or execution, whichever is latest;
(b) Checks, drafts and other evidence or documentation relating to the payment, transfer or release of money, from the date of the transaction; and
(c) Records and documents related to the requirements of this chapter.
2. Ā This section does not relieve a person of the obligation to produce a document described in subsection 1 to the Commissioner after the expiration of the relevant period if the person has retained the document.
3. Ā Records required by this section to be retained must be legible and complete. They may be retained in any form or by any process that accurately reproduces or is a durable medium for the reproduction of the record.
(Added to NRS by 2001, 2171)
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