40-5515. Records of transactions.
40-5515
40-5515. Records of transactions.(a) A public adjuster shall maintain a complete record ofeachtransaction as apublic adjuster. The records required by this section shall include thefollowing:
(1) Name of the insured;
(2) date, location and amount of the loss;
(3) copy of the contract between the public adjuster and insured;
(4) name of the insurer and the amount, expiration date and number of eachpolicy carriedby the insured with respect to the loss;
(5) itemized statement of the insured's recoveries;
(6) itemized statement of all compensation received by the public adjuster,from anysource whatsoever, in connection with the loss;
(7) a register of all moneys received, deposited, disbursed or withdrawn inconnectionwith a transaction with an insured, including fees, transfers and disbursementsfrom a trustaccount and all transactions concerning all interest-bearing accounts;
(8) name of public adjuster who executed the contract;
(9) name of the attorney representing the insured, if applicable, and thename of theclaims representatives of the insurance company; and
(10) evidence of financial responsibility in the format prescribed by thecommissioner.
(b) Records shall be maintained for at least five years after thetermination of thetransaction with an insured and shall be open to examination by thecommissioner at all times.
(c) Records submitted to the commissioner in accordance with this sectionthat containinformation identified in writing as proprietary by the public adjuster shallbe treated asconfidential by the commissioner and shall not be open for inspection under theKansas openrecords act.
(d) The provisions of subsection (c) shall expire on July 1, 2014, unless thelegislatureacts to reenact such provisions. The provisions of subsection (c) shall bereviewed by thelegislature prior to July 1, 2014.
History: L. 2009, ch. 83, § 15; Apr. 23.