Rule 120-2-47-.09. Recordkeeping

1. (1) All service contract providers shall keep accurate accounts, books, and records concerning transactions regulated under this Chapter.

2. (2) A service contract provider's accounts, books, and records shall include

   1. (a) Copies of all service contracts;
   2. (b) The name and address of each service contract holder; and
   3. (c) The dates, amounts, and descriptions of all receipts, claims and expenditures.
3. (3) A service contract provider shall retain all required accounts, books, and records pertaining to each service contract holder for at least two (2) years, unless a longer period is required by statute or regulation, after the specified period of coverage has expired. A provider discontinuing business in this State shall maintain its records until it furnishes the Commissioner satisfactory proof that it has discharged all obligations to contract holders in this State.
4. (4) Service contract providers shall make all accounts, books, and records concerning transactions regulated under this Regulation available to the Commissioner for the purpose of examination.

Authority: O.C.G.A. Secs. 33-2-9, 33-7-6.

History. Original Rule entitled "Recordkeeping" adopted. F. Aug. 24, 1989; eff. Sept. 15, 1989, as specified by the Agency.

Amended: ER. 120-2-47-0.17-.09 adopted. F. and eff. September 16, 2005, the date of adoption.

Amended: Permanent Rule adopted. F. Dec. 9, 2005; eff. Dec. 29, 2005.