522B.16A Duties of licensees. 1. An insurance producer has a continuing duty and obligation to keep, at the insurance producer’s place of business, usual and customary records pertaining to transactionsundertaken by the insurance producer. All such records shall be kept available and openfor inspection by the commissioner or the commissioner’s representative at any timeduring regular business hours, provided that the commissioner or the commissioner’srepresentative is not entitled to inspect any records prepared in anticipation of litigation orthat are subject to any privilege recognized in chapter 622. Such records shall be maintainedfor a minimum of three years following the completion of an insurance transaction. 2. An insurance producer who willfully fails to comply with this section commits a violation of this chapter and is subject to sanctions under section 522B.11. 2004 Acts, ch 1110, §63 Sat Dec 23 00:54:09 2023 Iowa Code 2024, Section 522B.16A (17, 0)
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