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Title 3 . Commerce, Community, and Economic Development
Chapter 23 . Miscellaneous
Section 290. Records required

3 AAC 23.290. Records required

(a) A licensee shall maintain books, accounts, and records relating to premium finance transactions and agreements to extend credit in accordance with accepted accounting practices. A licensee shall keep the required books, accounts, and records at the licensee's place of business, and in a manner that will make them readily available for inspection, examination, and audit by the director.

(b) During normal business hours, the director will, in the director's discretion, require a licensee to bring the books, accounts, and records required under (a) of this section to the director's office for examination.

(c) A licensee shall preserve the books, accounts, and records required under (a) of this section for at least five years following the year in which the final entry relating to a premium finance agreement or agreement to extend credit was made.

History: Eff. 4/22/79, Register 70; am 3/11/98, Register 145

Authority: AS 21.06.090

AS 21.36.122

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Last modified 7/05/2006