- (a) A licensee shall maintain books, accounts, and records relating to premium finance transactions and agreements to extend credit in accordance with accepted accounting practices. A licensee shall keep the required books, accounts, and records at the licensee's place of business, and in a manner that will make them readily available for inspection, examination, and audit by the director.
- (b) During normal business hours, the director will, in the director's discretion, require a licensee to bring the books, accounts, and records required under (a) of this section to the director's office for examination.
- (c) A licensee shall preserve the books, accounts, and records required under (a) of this section for at least five years following the year in which the final entry relating to a premium finance agreement or agreement to extend credit was made.
(Eff. 4/22/79, Register 70; am 3/11/98, Register 145)