Iowa Admin. Code r. 191-103.10

Current through Register Vol. 47, No. 10, November 13, 2024

Rule 191-103.10 - Records

(1) All licensed service companies shall keep accurate accounts, books, and records concerning transactions regulated under Iowa Code chapter 523C as amended by 2019 Iowa Acts, Senate File 619.

(2) A licensed service company's accounts, books, and records shall include:

a. Copies of all service contracts;

b. The name and address of each service contract holder; and

c. The dates and amounts of all receipts and expenditures related to all service contracts.

(3) A licensed service company shall retain all required accounts, books, and records pertaining to each service contract for at least two years after the expiration of the specified period of time.

(4) All licensed service companies shall make all accounts, books, and records concerning transactions regulated under Iowa Code chapter 523C as amended by 2019 Iowa Acts, Senate File 619, available to the division for the purpose of examination.

(5) A licensed service company discontinuing business in this state shall maintain its records until it furnishes the division satisfactory proof that it has discharged all obligations to service contract holders in this state.

Iowa Admin. Code r. 191-103.10

Adopted by IAB September 28, 2016/Volume XXXIX, Number 07, effective 11/2/2016

Amended by IAB June 19, 2019/Volume XLI, Number 26, effective 5/20/2019

Amended by IAB September 25, 2019/Volume XLII, Number 7, effective 10/30/2019