Ill. Admin. Code tit. 50, § 3120.80 - Recordkeeping

Current through Register Vol. 46, No. 15, April 8, 2022

a) Insurers, general agents, independent agencies and insurance producers shall maintain and be able to make available to the Director records of the information collected from the consumer and other information used in making the recommendations that were the basis for insurance transactions for 7 years after the insurance transaction is completed by the insurer. An insurer is permitted, but shall not be required, to maintain documentation on behalf of an insurance producer.
b) Records required to be maintained by this Part may be maintained in paper, photographic, microprocess, magnetic, mechanical or electronic media, or by any process that accurately reproduces the original document.

Notes

Ill. Admin. Code tit. 50, § 3120.80

Renumbered from Section 3120.70 and amended at 35 Ill. Reg. 16087, effective September 26, 2011

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