- (a) All vehicle protection product warrantors shall keep accurate accounts, books, and records concerning transactions regulated under this chapter.
(b) A vehicle protection product warrantor’s accounts, books, and records shall include:
- (1) Copies of all vehicle protection product warranties.
- (2) The name and address of each warranty holder.
- (3) The dates, amounts, and descriptions of all receipts, claims, and expenditures.
- (c) A vehicle protection product warrantor shall retain all required accounts, books, and records pertaining to each warranty holder for at least two years after the specified period of coverage has expired. A warrantor discontinuing business in this state shall maintain its records until it furnishes the commissioner satisfactory proof that it has discharged all obligations to warranty holders in this state.
- (d) Vehicle protection product warrantors shall make all accounts, books, and records concerning transactions regulated under this chapter available to the commissioner for examination.
(Act 2006-600, p. 1638, §10.)