(a) Every licensee shall maintain records of its premium finance transactions and the said records shall be open to examination and investigation by the Commissioner. The Commissioner may at any time require any licensee to bring such records as he may direct to the Commissioner's office for examination.
(b) Every licensee shall preserve its records of such premium finance transactions, including cards used in a card system, for at least 3 years after making the final entry in respect to any premium finance agreement. The preservation of records in photographic form shall constitute compliance with this requirement.
CREDIT(S)
(Oct. 9, 1940, ch. 792, ch. III, § 56; Apr. 18, 1966, 80 Stat. 126, Pub. L. 89-403, § 1; May 21, 1997, D.C. Law 11-268, § 10(r)(3), 44 DCR 1730.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 35-1556.
1973 Ed., § 35-1366.
Legislative History of Laws
For legislative history of D.C. Law 11- (Act 11-524), see Historical and Statutory Notes following § 31-2501.03.
Miscellaneous Notes
Department of Insurance abolished: See Historical and Statutory Notes following § 31-2501.03.