1. A medical discount plan must maintain records of the transactions governed by this
chapter. The records must include:
(a) A copy of each type of contract that the medical discount plan issues, sells or
offers for sale;
(b) The name and address of each member of the medical discount plan;
(c) A copy of each contract that the medical discount plan enters into with providers
of health care for purposes of providing members with health care or medical services
at a discount; and
(d) A copy of the annual certification of net worth and supporting documentation.
2. Except as otherwise provided in this subsection, each medical discount plan must
retain all records for at least 7 years. A medical discount plan which intends to discontinue doing business in this State
must provide the Commissioner with satisfactory proof that it has discharged its duties
to the members in this State and must not destroy its records without the prior approval
of the Commissioner.
3. The records required to be maintained pursuant to this section may be stored on
a computer disc or other storage device for a computer from which the records may
be readily printed.
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 or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.