40-2607. Records required to be maintained; examination; fees and expenses; duration. Every licensee shall maintain records of its premium finance transactions and the said records shall be open to examination and investigation by the commissioner: Provided, however, That said licensee shall be assessed and make payment of such fees and expenses incurred as a result of examination and investigation as set forth in K.S.A. 40-223. The commissioner may, at any time, require any licensee to bring such records as he may direct to the commissioner's office for examination.
Every licensee shall preserve its records of such premium finance transactions, including cards used in a card system, for at least three (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.
History: L. 1968, ch. 287, ยง 7; July 1.
Structure Kansas Statutes
Article 26 - Insurance Premium Financing
40-2603 Act inapplicable, when.
40-2604 Licensure; violation, penalty; continuation, fee; application; authority of commissioner.
40-2605 Investigation by commissioner; issuance of license.
40-2606 Revocation or suspension of license, grounds; hearing; other penalties.
40-2607 Records required to be maintained; examination; fees and expenses; duration.
40-2608 Rules and regulations.
40-2609 Premium finance agreement.
40-2610 Service charges; computation; maximum; refund on prepayment.
40-2612 Cancellation of insurance contracts, when; notice; duty of insurer; refund.