US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 14
                           PROPERTY INSURANCE RATES
    41-1439.  RECORDS. (1) Every insurer, rating organization or advisory
organization and every group, association or other organization of insurers
which engages in joint underwriting or joint reinsurance shall maintain
reasonable records, of the type and kind reasonably adapted to its method of
operation, of its experience or the experience of its members and of the data,
statistics or information collected or used by it in connection with the
rates, rating plans, rating systems, underwriting rules, policy or bond forms,
surveys or inspections made or used by it, so that such records will be
available at all reasonable times to enable the director to determine whether
such organization, insurer, group or association, and, in the case of an
insurer or rating organization, every rate, rating plan and rating system made
or used by it, complies with the provisions of this chapter applicable to it.
The maintenance of such records in the office of a licensed rating
organization of which an insurer is a member or subscriber will be sufficient
compliance with this section for any such insurer maintaining membership or
subscribership in such organization, to the extent that the insurer uses the
rates, rating plans, rating systems or underwriting rules of such
organization. Such records shall be maintained in an office within this state
or shall be made available for examination or inspection within this state by
the director at any time upon reasonable notice.
    (2)  In addition to or in lieu of any other penalty therefor, for each
failure to maintain the records as required hereunder the director may impose
upon the person so failing the penalty prescribed by section 41-1432.