§ 58-33A-75. (Effective July 1, 2010) Record retention. - North Carolina Statutes

§ 58‑33A‑75. (Effective July 1, 2010) Record retention.

(a)        A public adjustershall maintain a complete record of each transaction as a public adjuster. Therecords required by this section shall include all of the following:

(1)        Name of the insured.

(2)        Date, location, andamount of the loss.

(3)        Copy of the contractbetween the public adjuster and insured.

(4)        Name of the insurer,amount, expiration date and number of each policy carried with respect to theloss.

(5)        Itemized statementof the insured's recoveries.

(6)        Itemized statementof all compensation received by the public adjuster, from any sourcewhatsoever, in connection with the loss.

(7)        A register of allmonies received, deposited, disbursed, or withdrawn in connection with atransaction with an insured, including fees, transfers, and disbursements froma trust account and all transactions concerning all interest‑bearingaccounts.

(8)        Name of publicadjuster who executed the contract.

(9)        Name of the attorneyrepresenting the insured, if applicable, and the name of the claimsrepresentatives of the insurance company.

(10)      Evidence of financialresponsibility in a format prescribed by the Commissioner.

(b)        Records shall bemaintained for at least five years after the termination of the transactionwith an insured and shall be open to examination by the Commissioner at alltimes.

(c)        Records submittedto the Commissioner in accordance with this section that contain informationidentified in writing as proprietary by the public adjuster shall be treated asconfidential by the Commissioner and shall not be subject to Chapter 132 of theGeneral Statutes or G.S. 58‑2‑100.  (2009‑565, s. 1.)