(2)(a) A person required to be licensed under ORS 744.321 and 744.323 shall for five years retain copies of all:
(A) Proposed, offered or executed contracts, purchase agreements, underwriting documents, policy forms and applications from the date of the proposal, offer or execution of the contract or purchase agreement, whichever is later;
(B) Checks, drafts or other evidence and documentation related to the payment, transfer, deposit or release of funds from the date of the transaction; and
(C) Other records and documents related to the requirements under ORS 744.318 to 744.384, 744.991 and 744.992.
(b) This section does not relieve a person of the obligation to produce these documents for the director after the retention period has expired if the person has retained the documents.
(c) Records required to be retained by this section must be legible and complete and may be retained in paper, photograph, microprocess, magnetic, mechanical or electronic media, or by any process that accurately reproduces or forms a durable medium for the reproduction of a record.
(3) The director at any time may require a licensee to fully disclose the identity of all stockholders, partners, officers and employees.
(4) Names of, and individual identification data for, all policyholders and certificate holders who have entered life settlement contracts with life settlement providers are confidential as provided in ORS 705.137. [1995 c.342 §13; 2001 c.377 §15; 2009 c.711 §10]