Sec. 4102.110. RECORD MAINTENANCE. (a) A license holder shall keep a complete record in this state of each of the license holder's transactions as a public insurance adjuster. The records must include each of the following:
(1) the name of the insured;
(2) the date, location, and amount of the loss;
(3) a copy of the contract between the license holder and the insured;
(4) the name of the insurer and the amount, expiration date, and number of each policy under which the loss is covered;
(5) an itemized statement of the recoveries by the insured from the sources known to the license holder;
(6) the total compensation received for the adjustment; and
(7) an itemized statement of disbursements made by the license holder from recoveries received on behalf of the insured.
(b) Records required to be kept under this section must be:
(1) maintained in this state for at least five years after the termination of a transaction with the insured; and
(2) open to examination by the commissioner.
Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.082(a), eff. September 1, 2005.Section: Previous 4102.103 4102.104 4102.105 4102.106 4102.107 4102.108 4102.109 4102.110 4102.111 4102.112 4102.113 4102.114 4102.151 4102.152 4102.153 Next
Last modified: September 28, 2016