Section 1115.055 - Recordkeeping Requirements(a) Each agent, general agent, independent agency, and insurer shall maintain, or otherwise be able to make available to the commissioner, records of the information collected from the consumer, disclosures made to the consumer, including summaries of oral disclosures, and other information used in making a recommendation that was the basis for an insurance transaction subject to this chapter until the fifth anniversary of the date on which the transaction is completed by the insurer.(b) An insurer may, but is not required to, maintain documentation on behalf of an agent.(c) Records required to be maintained under this section may be maintained in paper, photographic, microprocess, magnetic, mechanical, or electronic media by any process that accurately reproduces the actual document.Tex. Ins. Code § 1115.055
Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 262,Sec. 14, eff. 9/1/2021.Added by Acts 2007, 80th Leg., R.S., Ch. 736, Sec. 1, eff. 9/1/2007.