Alabama § 8-32-7 - Record Keeping Requirements.
Full text of Alabama Code of Alabama § 8-32-7 — Record Keeping Requirements., with citation guidance and answers to common questions.
§ 8-32-7. Record Keeping Requirements.
(a)(1) The provider shall keep accurate accounts, books, and records concerning transactions regulated under this chapter.
(2) The provider’s accounts, books, and records shall include the following:
a. Copies of each type of service contract sold.
b. The name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder.
c. A list of the locations where service contracts are marketed, sold, or offered for sale.
d. Recorded claims files which shall contain at least the dates, amounts, and description of all receipts, claims, and expenditures related to the service contracts.
(3) The provider shall retain all records required to be maintained by this subsection (a) for at least three years after the specified period of coverage has expired.
(4) The records required under this chapter may be, but are not required to be, maintained on a computer disk or other record keeping technology. If the records are maintained in other than hard copy, the records shall be capable of duplication to legible hard copy at the request of the commissioner.
(b) A provider discontinuing business in this state shall maintain its records until it furnishes the commissioner satisfactory proof that it has discharged all obligations to service contract holders in this state.
Frequently Asked Questions About Alabama § 8-32-7
What does Code of Alabama § 8-32-7 cover?
Section 8-32-7 ("Record Keeping Requirements.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 8-32-7?
A common citation format is "Code of Alabama § 8-32-7" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 8-32-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.