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Current as of January 01, 2025 | Updated by Findlaw Staff
1. An insurer may destroy its obsolete records after expiration of such reasonable period after completion of the transactions to which they relate as the insurer may deem proper. The insurer may so destroy its closed files relating to losses and claims arising under its policies after the first to occur of the following events:
A. Completion of a regular examination of the insurer by the superintendent and to which the closed file was subject; or
B. Expiration of 6 years after the file was duly closed.
2. Records preserved on microfilm or other similar process and freely retrievable shall not be deemed to have been destroyed.
3. This section shall not relieve the insurer of any responsibility or liability otherwise arising under law with respect to the existence and availability of any record.
Cite this article: FindLaw.com - Maine Revised Statutes Title 24-A. Maine Insurance Code § 3410. Destruction of records - last updated January 01, 2025 | https://codes.findlaw.com/me/title-24-a-maine-insurance-code/me-rev-st-tit-24-a-sect-3410/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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