31A-26-306 - Place of business -- Records. - Utah Statutes

31A-26-306. Place of business -- Records.
(1) (a) An insurance adjuster licensed under this chapter shall:
(i) register with the commissioner the address and telephone number of the licensee'sprincipal place of business; and
(ii) if the licensee is an individual, provide the licensee's residence address and telephonenumber.
(b) A licensee shall notify the commissioner within 30 days of any change of address ortelephone number.
(2) Except as provided under Subsection (3), every insurance adjuster shall keep at theaddress registered under Subsection (1), a record of all transactions consummated under theinsurance adjuster's license, including a record of:
(a) each investigation or adjustment undertaken or consummated; and
(b) any fee, commission, or other compensation received or to be received by the adjusteron account of the investigation or adjustment.
(3) Subsection (2) is satisfied if the records specified in that subsection can be obtainedimmediately from a central storage place elsewhere by on-line computer terminals located at theregistered address.
(4) (a) The records maintained as to a transaction under Subsection (2) shall be keptavailable for the inspection of the commissioner during all business hours for a period of timeafter the date of the transaction specified by the commissioner by rule, but in no case for less thanthe current calendar year plus three years.
(b) Discarding records after the then applicable record retention period is passed does notplace the licensee in violation of a later-adopted longer record retention period.

Amended by Chapter 173, 2004 General Session