(a) Every licensed premium service company shall maintain records of its premium service transactions and the records must be open to examination and investigation by the director or his designee. The director or his designee may at any time require the company to bring any records he directs to his office for examination.
(b) Every licensed premium service company shall preserve its records, including cards used in a card system, for at least three years after making the final entry in respect to any premium service agreement. The preservation of records in photographic form constitutes compliance with this requirement.
HISTORY: Former 1976 Code Section 38-39-50 [1962 Code Section 37-777; 1971 (57) 744; 1972 (57) 2736; 1976 Act No. 460; 1978 Act No. 562] recodified as Sections 38-75-340 and 38-75-350 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-27-60 [1962 Code Section 37-1306; 1967 (55) 273] recodified as Section 38-39-50 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 653.
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