Ala. Admin. Code r. 482-1-118-.03

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-118-.03 - Records Required For Purposes Of Financial Examinations

Every insurer, which term shall include every domestic insurer, foreign insurer, health care services corporation, health maintenance organization, prepaid dental plan, managing general agent or any other legal entity regulated by the Insurance Code and licensed to do business in this state shall maintain its books, records, documents and other business records in order that the insurer's financial condition may be readily ascertained by the Department of Insurance, taking into consideration other record retention requirements. All records must be maintained for not less than five (5) years.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-118-.03

New: September 21, 1999; effective October 1, 1999. Filed for codification in the Alabama Administrative Code by the Department of Insurance on November 14, 2005, pursuant to the Code of Ala. 1975, § 27-7-43.

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-2-20, 27-2-21, 27-21A-19.