Utah Code 31A-6a-106. Recordkeeping requirements
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Terms Used In Utah Code 31A-6a-106
- Contract: A legal written agreement that becomes binding when signed.
- contract holder: means a person who purchases a service contract. See Utah Code 31A-6a-101
- Service contract: includes any contract or agreement to perform or reimburse the service contract holder for any one or more of the following services:(6)(c)(i) the repair or replacement of tires, wheels, or both on a motor vehicle damaged as a result of coming into contact with a road hazard;(6)(c)(ii) the removal of dents, dings, or creases on a motor vehicle that can be repaired using the process of paintless dent removal without affecting the existing paint finish and without replacing vehicle body panels, sanding, bonding, or painting;(6)(c)(iii) the repair of chips or cracks in or the replacement of a motor vehicle windshield as a result of damage caused by a road hazard, that is primary to the coverage offered by the motor vehicle owner's motor vehicle insurance policy; or(6)(c)(iv) the replacement of a motor vehicle key or key-fob if the key or key-fob becomes inoperable, lost, or stolen, except that the replacement of lost or stolen property is limited to only the replacement of a lost or stolen motor vehicle key or key-fob. See Utah Code 31A-6a-101
- Service contract provider: means a person who issues, makes, provides, administers, sells or offers to sell a service contract, or who is contractually obligated to provide service under a service contract. See Utah Code 31A-6a-101
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) All service contract providers shall keep accurate accounts, books, and records concerning transactions regulated under this chapter.(1)(b) A service contract provider‘s accounts, books, and records shall include:(1)(b)(i) copies of all service contracts issued;(1)(b)(ii) the name and address of each service contract holder; and(1)(b)(iii) claims files.(1)(c) Service contract providers shall retain all records pertaining to each service contract holder for at least three years after the specified period of coverage has expired.
(2) A provider discontinuing business in this state shall maintain its records until it furnishes the commissioner satisfactory proof that it has discharged all obligations to contract holders in this state.