Section 385.427

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 385

Effective - 01 Jan 2009, see footnote   

  385.427.  Record-keeping requirements. — 1.  All vehicle protection product warrantors shall keep accurate accounts, books, and records concerning transactions regulated under sections 385.400 to 385.436.

  2.  A vehicle protection product warrantor's accounts, books, and records shall include:

  (1)  Copies of all vehicle protection product warranties;

  (2)  The name and address of each warranty holder; and

  (3)  Claims files which shall contain at least the dates, amounts, and descriptions of all receipts, claims, and expenditures.

  3.  A vehicle protection product warrantor shall retain all required accounts, books, and records pertaining to each warranty holder for at least three years after the specified period of coverage has expired.  A warrantor discontinuing business in the state shall maintain its records until it furnishes the director satisfactory proof that it has discharged all obligations to warranty holders in this state.

  4.  Vehicle protection product warrantors shall make all accounts, books, and records concerning transactions regulated under sections 385.400 to 385.436 available to the director for examination.

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(L. 2008 S.B. 930 & 947)

Effective 1-01-09