(1) A nonresident adjuster or insurance consultant shall keep at the principal place of business of the licensee the usual and customary records pertaining to the business under the nonresident license. All such records as to any particular transaction shall be kept available and open to the inspection of the Director of the Department of Consumer and Business Services during business hours. For the purpose of this subsection, if a nonresident licensee has a place of transacting insurance in this state, that place shall be the principal place of business for the licensee.
(2) A nonresident adjuster or insurance consultant shall keep records of a particular transaction by the nonresident adjuster or insurance consultant for three years following conclusion of the transaction. [1989 c.701 §17; 1995 c.639 §4; 2001 c.191 §35]
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