California § 10509.917. 10509.917. (Added by Stats. 2011, Ch. 295, Sec. 2.)

California Statutes

§ 10509.917. — 10509.917. (Added by Stats. 2011, Ch. 295, Sec. 2.)

California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 2. PART 2. LIFE AND DISABILITY INSURANCE·Ch. 5. CHAPTER 5. General Regulation of Life Insurers·Art. 9. ARTICLE 9. Suitability Requirements for Annuity Transactions before January 1, 2025

(a)Insurers and insurance producers shall maintain or be able to make available to the commissioner records of the information collected from the consumer and other information used in making the recommendations that were the basis for insurance transactions for five years after the insurance transaction is completed by the insurer. An insurer is permitted, but shall not be required, to maintain documentation on behalf of an insurance producer.

(b)Records required to be maintained by this article may be maintained in paper, photographic, microprocess, magnetic, mechanical, or electronic media, or by any process that accurately reproduces the actual document.

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(a)
Insurers and insurance producers shall maintain or be able to make available to the commissioner records of the information collected from the consumer and other information used in making the recommendations that were the basis for insurance transactions for five years after the insurance transaction is completed by the insurer. An insurer is permitted, but shall not be required, to maintain documentation on behalf of an insurance producer.
(b)
Records required to be maintained by this article may be maintained in paper, photographic, microprocess, magnetic, mechanical, or electronic media, or by any process that accurately reproduces the actual
document.

California § 10509.917. (10509.917. (Added by Stats. 2011, Ch. 295, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.