§ 10-4-1608 — Required record keeping

(1) A provider shall keep accurate
accounts, books, and records concerning transactions regulated under this part 16.

(2) A provider's accounts, books, and records must include:

(a) Copies of each type of service contract sold;

(b) The name and address of each service contract holder to the extent that
the name and address have been furnished by the service contract holder;

(c) A list of the locations where service contracts are marketed, sold, or
offered for sale; and

(d) Written claims files containing at least the dates and descriptions of all
claims related to the service contracts.

(3) Except as set forth in subsection (5) of this section, a provider shall retain
all records required under this section for at least one year after the specified
period of coverage has expired.

(4) The records required under this section may be, but are not required to
be, maintained in electronic form or other record-keeping technology. If the records
are maintained in other than hard copy, the records must be capable of duplication
to legible hard copy at the request of the commissioner.

(5) A provider discontinuing business in this state shall maintain its records
until it has discharged all obligations to contract holders in this state.

Legislative History

Source: L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 749, � 2, effective January 1, 2015.