Ill. Admin. Code tit. 50, § 901.10 - Definitions

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

"Non-Record" material means:

Material not filed as evidence of the company's administrative or business activities or for the informational content thereof;

Extra copies of documents or reproductions of documents maintained for convenience or reference;

Stocks of printed or reproduced documents kept for supply purposes, where file copies have been retained for record purposes;

Books, periodicals, newspapers, posters, pamphlets and other materials made or acquired and preserved solely for reference or exhibition purposes;

Private materials neither made nor received by a company pursuant to law or in connection with the transaction of its business;

Company dailies more than six (6) months after expiry or cancellation date of the policy if the data therein contained is, to the extent material or necessary to the determination of the financial condition of the company, contained in other records.

"Records" material means all books, papers and documentary materials regardless of physical form or characteristics, made, produced, executed or received by any domestic insurance company pursuant to law or in connection with the transaction of its business and preserved or appropriate for preservation by such company or its successors as evidence of the organization, function, policies, decisions, procedures, obligations and business activities of the company or because of the informational data contained therein. If doubt arises as to whether certain papers are "non-record" materials, it should be assumed that the documents are "records".

Non-Record materials may be destroyed at any time by the company in possession of such materials without the prior approval of the Director of Insurance.

Notes

Ill. Admin. Code tit. 50, § 901.10

The following state regulations pages link to this page.



State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.