Nevada Revised Statutes 688C.240 – Retention of records and documents by licensee
1. A person required to be licensed under this chapter shall retain for 5 years copies of all:
Terms Used In Nevada Revised Statutes 688C.240
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) Contracts, underwriting documents, forms of policy and applications, from the date of the proposal, offer or execution, whichever is latest;
(b) Checks, drafts and other evidence or documentation relating to the payment, transfer or release of money, from the date of the transaction; and
(c) Records and documents related to the requirements of this chapter.
2. This section does not relieve a person of the obligation to produce a document described in subsection 1 to the Commissioner after the expiration of the relevant period if the person has retained the document.
3. Records required by this section to be retained must be legible and complete. They may be retained in any form or by any process that accurately reproduces or is a durable medium for the reproduction of the record.