§ 6611. Records.
(a)(1) Every co-operative property/casualty\ninsurance company shall keep and maintain books of account and records\nin such manner as will show fully and truly the condition, affairs and\nbusiness of such corporation and facilitate the preparation and\nverification of its annual statements.\n (2) Such records shall be available for inspection by any policyholder\nof the corporation during ordinary business hours.\n (3) The secretary shall maintain a minute book recording the\nproceedings of all meetings of the corporation, its board of directors\nand the principal committees thereof.\n (4) (A) The books of account shall include a cash book and general\nledger together with the necessary supplemental and subsidiary records\nincluding a loss register showing all losse
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§ 6611. Records. (a) (1) Every co-operative property/casualty\ninsurance company shall keep and maintain books of account and records\nin such manner as will show fully and truly the condition, affairs and\nbusiness of such corporation and facilitate the preparation and\nverification of its annual statements.\n (2) Such records shall be available for inspection by any policyholder\nof the corporation during ordinary business hours.\n (3) The secretary shall maintain a minute book recording the\nproceedings of all meetings of the corporation, its board of directors\nand the principal committees thereof.\n (4) (A) The books of account shall include a cash book and general\nledger together with the necessary supplemental and subsidiary records\nincluding a loss register showing all losses of which the corporation\nhas had notice and the disposition or settlement thereof and a record of\nits investments.\n (B) All cash and checks collected including policy and survey fees\nshall be reported as income.\n (C) All checks issued shall be signed either by two officers or by one\nofficer upon the written order of another officer, except as otherwise\nprovided by resolution of the corporation's board of directors or in its\nby-laws for handling of miscellaneous expenses.\n (D) Checkbook stubs, bank statements and cancelled checks shall be\nkept on file for at least seven years.\n (b) The records of a co-operative property/casualty insurance company\nshall also include a policy register in such form as will show all\npolicies issued in consecutive numerical order in one or more series,\nand a register of gross premiums or assessments in force and reinsurance\npremiums in force summarized by terms and expirations and supported by\nmonthly or quarterly tabulations of the premiums written and cancelled\nduring such periods.\n (c) The records of an assessment corporation shall also include an\nassessment register which may be combined with the policy register,\nshowing the rates and amount charged and dates of collections, and a\nloan or note record showing all such transactions.\n