Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 96.00 - Consumer Protection And Suitability In Annuity Transactions
Section 96.08 - Recordkeeping

Universal Citation: 211 MA Code of Regs 211.96

Current through Register 1531, September 27, 2024

(1) Producers and insurers shall maintain or be able to make available to the Commissioner records of the information collected from the consumer, disclosures made to the consumer, including summaries of oral disclosures, and other information used in making the recommendations that were the basis for insurance transactions for five years after the insurance transaction is completed by the insurer. An insurer is permitted, but shall not be required, to maintain documentation on behalf of a producer.

(2) Records required to be maintained by 211 CMR 96.00 may be maintained in paper, photographic, microprocess, magnetic, mechanical or electronic media or by any process that accurately reproduces the actual document.

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