(1)(a) A licensee that is a resident shall maintain a principal place of business in this state in which the licensee engages in business as an insurance consultant. The principal place of business may be the licensee’s residence, but the principal place of business must be accessible to the public.

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(b) If a licensee that is not a resident has a place of business in this state in which the licensee transacts insurance, the place of business is the licensee’s principal place of business in this state.

(2) A licensee shall keep at the licensee’s place of business all of the usual and customary records for the business in which the licensee engages and must make the records available to the Director of the Department of Consumer and Business Services for inspection during business hours. The licensee shall keep the records of each business transaction for three years after the conclusion of the transaction. [2019 c.151 § 15]

[1985 c.697 § 9; repealed by 1989 c.701 § 81]

[1957 c.247 § 13; repealed by 1967 c.359 § 704]