2006 Utah Code - 31A-26-306 — Place of business -- Records.

     31A-26-306.   Place of business -- Records.
     (1) (a) An insurance adjuster licensed under this chapter shall:
     (i) register with the commissioner the address and telephone number of the licensee's principal place of business; and
     (ii) if the licensee is an individual, provide the licensee's residence address and telephone number.
     (b) A licensee shall notify the commissioner within 30 days of any change of address or telephone number.
     (2) Except as provided under Subsection (3), every insurance adjuster shall keep at the address registered under Subsection (1), a record of all transactions consummated under the insurance adjuster's license, including a record of:
     (a) each investigation or adjustment undertaken or consummated; and
     (b) any fee, commission, or other compensation received or to be received by the adjuster on account of the investigation or adjustment.
     (3) Subsection (2) is satisfied if the records specified in that subsection can be obtained immediately from a central storage place elsewhere by on-line computer terminals located at the registered address.
     (4) (a) The records maintained as to a transaction under Subsection (2) shall be kept available for the inspection of the commissioner during all business hours for a period of time after the date of the transaction specified by the commissioner by rule, but in no case for less than the current calendar year plus three years.
     (b) Discarding records after the then applicable record retention period is passed does not place the licensee in violation of a later-adopted longer record retention period.

Amended by Chapter 173, 2004 General Session