KRS 304.30-060: Books and records.

(1) Every licensee shall maintain records of its premium finance transactions and the

records shall be open to examination and investigation by the commissioner.

(2) Every licensee shall preserve its records of premium finance transactions, including

cards used in a card system, for at least five (5) years after making the final entry in

respect to any premium finance agreement. The preservation of records in

photographic form shall constitute compliance with this requirement.

(3) For the purpose of determining market conduct, business practices, financial

condition, ability to fulfill and manner of fulfillment of its obligations, the nature of

its operations, and compliance with law, the commissioner shall examine the

affairs, transactions, accounts, records, and assets of each licensed premium finance

company as often as reasonably necessary.

(4) Premium finance companies shall be subject to the provisions of KRS 304.2 -220,

304.2-230, 304.2 -240, 304.2 -250, 304.2 -260, 304.2 -270, 304.2 -280, 304.2 -290,

304.2-300, and Subtitle 2 of this chapter for determining financial condition, market

conduct, and business practices.