33-23-43.5. Complete record of transactions; retention and examination.

A public adjuster shall keep a complete record in this state of each of such adjuster’s transactions as a public adjuster. The records shall include each of the following:#

1. (1)

   The name of the insured;#

2. (2)

   The date, location, and amount of the loss;#

3. (3)

   A copy of the contract between the public adjuster and the insured;#

4. (4)

   The name of the insurer and the amount, expiration date, and number of each policy under which the loss is covered;#

5. (5)

   An itemized statement of the recoveries by the insured from the sources known to the public adjuster;#

6. (6)

   The total compensation received for the adjustment; and#

7. (7)

   An itemized statement of disbursements made by the license holder from recoveries received on behalf of the insured.#

Records required to be kept under this Code section shall be:#

1. (1)

   Maintained in this state for at least five years after the termination of a transaction with the insured; and#

2. (2)

   Open to examination by the Commissioner.#