Section 407.1215

Title XXVI TRADE AND COMMERCE

Chapter 407

Effective - 01 Jan 2007, 2 histories, see footnote   (history) 

  407.1215.  Accurate records required — records retained, time period — electronic records — discontinued business records maintained, time period — records available to director upon request. — 1. An administrator, provider, or other intermediary shall keep accurate accounts, books, and records concerning transactions regulated by sections 407.1200 to 407.1227.

  2. An administrator's, provider's, or other intermediary's accounts, books, and records shall include:

  (1) Copies of each type of service contract issued;

  (2) 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;

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

  (4) Claims files which shall contain at least the dates, amounts, and description of all receipts, claims, and expenditures related to the service contracts.

  3. Except as provided in this section, an administrator shall retain all records pertaining to each service contract holder for at least three years after the specified period of coverage has expired.

  4. An administrator, provider, or other intermediary may keep all records required pursuant to sections 407.1200 to 407.1227 on a computer disk or other similar technology. If an administrator, provider, or other intermediary maintains records in other than hard copy, records shall be accessible from a computer terminal available to the director and be capable of duplication to legible hard copy.

  5. An administrator, provider, or other intermediary discontinuing business in this state shall maintain its records until it furnishes the director satisfactory proof that it has discharged all obligations to contract holders in this state.

  6. An administrator, provider, or other intermediary shall make all accounts, books, and records concerning transactions regulated pursuant to sections 407.1200 to 407.1227 or other pertinent laws available to the director upon request.

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(L. 2004 S.B. 1233, et al.)

Effective 1-1-07