§ 31–2351.07. Record keeping requirements.

(a) A provider must keep accurate accounts, books, and records concerning transactions regulated under this chapter and shall include:

(1) A copy of each type of service contract sold;

(2) The name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder;

(3) For automobile or new property retail sales, a list of the locations where service contracts are marketed, sold, or offered for sale; and

(4) Written claims files that shall contain, at a minimum, the dates and description of claims related to the service contracts.

(b) Except as provided in subsection (d) of this section, the provider shall retain all records required to be maintained by this section for at least one year after the specified period of coverage has expired.

(c) The records required under this chapter may be, but shall not be required to be, maintained on a computer disk or other record-keeping technology; provided, that if the records are maintained in other than hard copy, the records shall be capable of duplication to legible hard copy at the request of the Commissioner.

(d) A provider discontinuing business in the District shall maintain its records until it furnishes the Commissioner satisfactory proof that it has discharged all obligations to contract holders in the District.