Idaho Code
Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS
Section 41-1940E - ANNUITY CONSUMER PROTECTION — RECORDKEEPING.

41-1940E. ANNUITY CONSUMER PROTECTION — RECORDKEEPING. (1) Insurers, general agents, independent agencies, and producers shall maintain or be able to make available to the director records of the information collected from the consumer, disclosures made to the consumer including summaries of oral disclosures, and other information used in making the recommendations that were the basis for insurance transactions for five (5) years after the natural life of the contract. An insurer is permitted but shall not be required to maintain documentation on behalf of a producer.
(2) Records required to be maintained by the annuity consumer protections act may be maintained in paper, photographic, micro-process, magnetic, mechanical, or electronic media or by any process that accurately reproduces the actual document.

History:
[41-1940E, added 2021, ch. 41, sec. 7, p. 120.]

Structure Idaho Code

Idaho Code

Title 41 - INSURANCE

Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS

Section 41-1901 - SCOPE OF CHAPTER.

Section 41-1902 - “INDUSTRIAL LIFE INSURANCE” DEFINED.

Section 41-1903 - STANDARD PROVISIONS REQUIRED.

Section 41-1904 - GRACE PERIOD.

Section 41-1905 - INCONTESTABILITY.

Section 41-1906 - ENTIRE CONTRACT.

Section 41-1907 - MISSTATEMENT OF AGE.

Section 41-1908 - DIVIDENDS.

Section 41-1909 - POLICY LOAN.

Section 41-1910 - TABLE OF INSTALMENTS.

Section 41-1911 - REINSTATEMENT.

Section 41-1912 - PAYMENT OF PREMIUMS.

Section 41-1913 - PAYMENT OF CLAIMS.

Section 41-1914 - BENEFICIARY — INDUSTRIAL POLICIES.

Section 41-1915 - TITLE.

Section 41-1916 - EXCLUDED OR RESTRICTED COVERAGE.

Section 41-1917 - STANDARD PROVISIONS — ANNUITY AND PURE ENDOWMENT CONTRACTS.

Section 41-1918 - GRACE PERIOD — ANNUITIES.

Section 41-1919 - INCONTESTABILITY — ANNUITIES.

Section 41-1920 - ENTIRE CONTRACT — ANNUITIES.

Section 41-1921 - MISSTATEMENT OF AGE OR SEX — ANNUITIES.

Section 41-1922 - DIVIDENDS — ANNUITIES.

Section 41-1923 - REINSTATEMENT — ANNUITIES.

Section 41-1924 - STANDARD PROVISIONS — REVERSIONARY ANNUITIES.

Section 41-1925 - LIMITATION OF LIABILITY.

Section 41-1926 - PROHIBITED PROVISIONS — INDUSTRIAL LIFE INSURANCE.

Section 41-1927 - STANDARD NONFORFEITURE LAW — LIFE INSURANCE.

Section 41-1927A - STANDARD NONFORFEITURE LAW FOR INDIVIDUAL DEFERRED ANNUITIES.

Section 41-1928 - NONFORFEITURE BENEFITS — CERTAIN INTERIM POLICIES.

Section 41-1929 - INCONTESTABILITY AND LIMITATION OF LIABILITY AFTER REINSTATEMENT.

Section 41-1930 - POLICY SETTLEMENTS.

Section 41-1931 - INDEBTEDNESS DEDUCTED FROM PROCEEDS.

Section 41-1932 - PARTICIPATING AND NONPARTICIPATING POLICIES — RIGHT TO ISSUE.

Section 41-1933 - PARTICIPATING AND NONPARTICIPATING POLICIES — ACCOUNTING.

Section 41-1934 - PROHIBITED POLICY PLANS.

Section 41-1935 - LIFE INSURANCE AND ANNUITIES — TWENTY DAY FREE EXAMINATION.

Section 41-1936 - SEPARATE ACCOUNTS — OPERATION AND MANAGEMENT.

Section 41-1937 - VARIABLE CONTRACTS — STATEMENT OF ESSENTIAL FEATURES.

Section 41-1938 - VARIABLE CONTRACTS — AUTHORITY OF INSURER TO ISSUE.

Section 41-1939 - VARIABLE CONTRACTS — REGULATION THEREOF.

Section 41-1940 - ANNUITY CONSUMER PROTECTIONS ACT.

Section 41-1940A - ANNUITY CONSUMER PROTECTIONS — SUITABILITY DUTIES.

Section 41-1940B - ANNUITY CONSUMER PROTECTION — SUPERVISION SYSTEM.

Section 41-1940C - ANNUITY CONSUMER PROTECTION — PRODUCER TRAINING.

Section 41-1940D - ANNUITY CONSUMER PROTECTION — COMPLIANCE MITIGATION.

Section 41-1940E - ANNUITY CONSUMER PROTECTION — RECORDKEEPING.

Section 41-1941 - ANNUITY CONSUMER PROTECTIONS — DISCLOSURES.

Section 41-1942 - ADVERTISEMENT OF INTEREST-INDEXED ANNUITIES.

Section 41-1943 - STANDARDS FOR POLICY PROVISIONS FOR ANNUITIES.

Section 41-1950 - SHORT TITLE AND SCOPE.

Section 41-1951 - DEFINITIONS.

Section 41-1952 - LICENSE REQUIREMENT.

Section 41-1953 - FILING OF LIFE SETTLEMENT CONTRACTS AND DISCLOSURE STATEMENTS.

Section 41-1954 - REPORTING REQUIREMENTS AND PRIVACY.

Section 41-1955 - EXAMINATION AND RECORDS.

Section 41-1956 - DISCLOSURE TO OWNER UPON APPLICATION.

Section 41-1957 - DISCLOSURE TO OWNER BY PROVIDER UPON SETTLEMENT CONTRACT.

Section 41-1958 - DISCLOSURE TO OWNER BY BROKER UPON SETTLEMENT CONTRACT.

Section 41-1959 - NOTICE OF CHANGE BY PROVIDER.

Section 41-1960 - GENERAL RULES.

Section 41-1961 - PERMITTED LIFE SETTLEMENTS AND SUPPORTING DOCUMENTATION.

Section 41-1962 - PROHIBITED PRACTICES AND CONFLICTS OF INTEREST.

Section 41-1963 - ADVERTISING FOR LIFE SETTLEMENTS.

Section 41-1964 - PENALTY — UNFAIR TRADE PRACTICES.

Section 41-1965 - AUTHORITY TO PROMULGATE RULES.