(A) Each licensee shall keep records of the insurance premium finance deals carried out under sections 1321.71 to 1321.83 for the Revised Code. Each licensee shall protect its documents related to insurance coverage premium finance deals carried out under sections 1321.71 to 1321.83 associated with the Revised Code for at the least couple of years following the entry that is final such documents. Preservation of documents in the form of accounting systems maintained in entire or perhaps in component by technical or data that are electronic techniques constitutes conformity with this specific unit.
The unit of finance institutions for purposes of determining whether a licensee is complying with parts 1321.71 to 1321.83 associated with the Revised Code, could make or reason enough to be made a study of documents with respect to insurance coverage premium finance deals carried out under those parts.
(B) in case a licensee’s publications, documents, information, as well as other papers are situated outside this state, the licensee shall, upon the demand for the superintendent of banking institutions, deposit aided by the unit a sum corresponding to the approximated costs, as decided by the superintendent, of a examination of the licensee carried out outside this state. Following the real expenses regarding the assessment have now been determined and itemized by the division, the unit shall come back to the licensee any amount it had deposited more than the particular expenses.