Report Title:

Insurance Records; Retention

Description:

Increases the retention time of records of insurance agents, adjusters, and independent bill reviewers from five to eight years.

HOUSE OF REPRESENTATIVES

H.B. NO.

552

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to insurance.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 431:9-229, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

"(b) All such records as to any particular transaction shall be kept in the licensee's office, available and open to the inspection of the commissioner during business hours during the [five] eight years immediately after the date of the completion of such transaction."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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