Effective - 01 Jan 2008
385.310. Record-keeping requirements. — 1. A provider or administrator shall keep accurate accounts, books, and records concerning transactions regulated under sections 385.300 to 385.320. However, only one set of such accounts, books, and records is required to be maintained and may be maintained by third parties provided the provisions of this section are met.
2. An administrator's or provider's accounts, books, and records shall include:
(1) Copies of each type of service contract issued;
(2) The name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder;
(3) A list of the provider locations where service contracts are marketed, sold, or offered for sale; and
(4) Claims files that shall contain at least the dates, amounts, and description of all receipts, claims, and expenditures related to the service contracts.
3. Except as provided in subsection 5 of this section, an administrator or provider shall retain or arrange for the retention of all records pertaining to each service contract holder for at least three years after the specified period of coverage had expired.
4. An administrator or provider may keep all records required under sections 385.300 to 385.320 on a computer disk or other similar technology. If an administrator or provider maintains records in other than hard copy, records shall be accessible from a computer terminal available to the director and be capable of duplication to legible hard copy.
5. An administrator or provider discontinuing business in this state shall maintain or arrange for the maintenance of its records until it furnishes the director satisfactory proof that it has discharged all obligations to contract holders in this state.
6. An administrator or provider shall make all accounts, books, and records concerning transactions regulated under sections 385.300 to 385.320 or other pertinent laws available to the director upon request.
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(L. 2007 H.B. 221)
Effective 1-01-08
Structure Missouri Revised Statutes
Title XXIV - Business and Financial Institutions
Chapter 385 - Credit Insurance and Service Contracts
Section 385.010 - Purpose clause.
Section 385.015 - Scope of law.
Section 385.020 - Definitions.
Section 385.025 - Credit life and accident insurance, form in which it shall be issued.
Section 385.030 - Amount of insurance permitted — payments, amount of, limited.
Section 385.035 - Term of policy, prepayment of debt, effect of.
Section 385.055 - Who may issue credit life insurance.
Section 385.060 - Reporting and settlement of claims — who may adjust claims.
Section 385.075 - Regulatory powers of director.
Section 385.200 - Definitions.
Section 385.204 - Reimbursement insurance policies, requirements.
Section 385.208 - Deceptive practices.
Section 385.210 - Record-keeping requirements.
Section 385.212 - Termination, notice required.
Section 385.214 - Providers considered agents of insurer, when — indemnification and subrogation.
Section 385.216 - Investigations, administrative orders.
Section 385.218 - Rulemaking authority.
Section 385.220 - Inapplicability.
Section 385.300 - Definitions.
Section 385.302 - Registration required, fee — administrator authorized — provider requirements.
Section 385.304 - Reimbursement insurance policy requirements.
Section 385.306 - Contract requirements, contents.
Section 385.308 - Deceptive practices.
Section 385.310 - Record-keeping requirements.
Section 385.312 - Termination, notice required.
Section 385.314 - Providers considered agents of insurer, when — indemnification and subrogation.
Section 385.316 - Investigations, administrative orders.
Section 385.318 - Rulemaking authority.
Section 385.320 - Inapplicability.
Section 385.321 - Effective date for certain sections.
Section 385.400 - Citation of law.
Section 385.403 - Definitions.
Section 385.406 - Applicability, exceptions.
Section 385.409 - Registration required — records, content — fee — notice for failure to register.
Section 385.415 - Warranty reimbursement insurance policy requirements.
Section 385.418 - Warranty requirements.
Section 385.424 - Prohibited use of names and terms.
Section 385.427 - Record-keeping requirements.
Section 385.430 - Enforcement authority — administrative orders permitted.
Section 385.433 - Rulemaking authority.
Section 385.436 - Admissibility of failure to comply evidence.