(1) A provider shall keep accurate accounts, books, and records concerning transactions regulated under this part 16.
(2) 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 andaddress 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 relatedto the service contracts.
Except as set forth in subsection (5) of this section, a provider shall retain all recordsrequired 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 hasdischarged 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.