{"data":{"id":"us-mi/mich.-comp.-laws-500.1506","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.1506","heading":"Premium finance transaction records; examination; preservation.","body":"Sec. 1506.\n\nA licensee shall maintain records of its premium finance transactions and the records shall be open to examination and investigation by the commissioner. The commissioner may at any time require a licensee to bring records as the commissioner may direct to the commissioner's office for examination.\n\nA licensee shall preserve its records of premium finance transactions, including cards used in a card system, for at least 3 years after making the final entry in respect to a premium finance agreement. The preservation of records in the form of reproductions pursuant to the records media act constitutes compliance with this requirement, except that a record shall not be reduced to such form until at least 2 years after the final entry is made in the record.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-1506","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"78f95b878797f3f87519d7839f7bd3d5fab137fae33f966c5ae2d7847cdd24fb","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.1505","next":"us-mi/mich.-comp.-laws-500.1507"},"notice":"GroundRules: Original legal text. Not legal advice."}