(215 ILCS 152/45)
Record keeping requirements.
(a) The service contract provider shall keep accurate accounts, books, and
concerning transactions regulated under this Act.
(b) The service contract provider's accounts, books, and records shall
(1) copies 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 has been furnished by the service contract holder;
(3) a list of the locations where service contracts
are marketed, sold, or offered for sale; and
(4) written claims files which shall contain at least
the date and description of claims related to the service contracts.
(c) Except as provided in subsection (e) of this Section, the service
shall retain all
records required to be maintained by Section 45 for at least 3 years after
specified period of coverage has expired.
(d) The records required under this Act may be, but are not required to
maintained on a computer disk or other record keeping technology. 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 Director.
(e) A service contract provider discontinuing business in this State shall
maintain its records
until it furnishes the Director satisfactory proof that it has discharged all
obligations to service
contract holders in this State.
(Source: P.A. 99-78, eff. 7-20-15.)