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's
principal place of business; and
(ii) if the licensee is an individual, provide the licensee's residence address and telephone
number.
(b) A licensee shall notify the commissioner within 30 days of any change of address or
telephone number.
(2) Except as provided under Subsection (3), every insurance adjuster shall keep at the
address registered under Subsection (1), a record of all transactions consummated under the
insurance 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 adjuster
on account of the investigation or adjustment.
(3) Subsection (2) is satisfied if the records specified in that subsection can be obtained
immediately from a central storage place elsewhere by on-line computer terminals located at the
registered address.
(4) (a) The records maintained as to a transaction under Subsection (2) shall be kept
available for the inspection of the commissioner during all business hours for a period of time
after the date of the transaction specified by the commissioner by rule, but in no case for less than
the current calendar year plus three years.
(b) Discarding records after the then applicable record retention period is passed does not
place the licensee in violation of a later-adopted longer record retention period.
Amended by Chapter 173, 2004 General Session
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Last revised: Thursday, May 28, 2009