N.J. Admin. Code § 11:17C-2.6

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:17C-2.6 - Record maintenance and examination; electronic recordkeeping

(a) All required books and records of account, including bank records, shall be maintained for a period of five years after the termination of coverage. With respect to title insurance only, to the extent that the provisions of this section are in conflict with N.J.S.A. 17:46B-9, the latter shall be deemed to apply.

(b) All records, books and documents required to be maintained by the provisions of this chapter shall, upon his or her request, be produced for examination by the Commissioner or his or her duly authorized representatives.

(c) The books and records required by this chapter to be maintained may be maintained electronically if the following conditions are met:

1. That all of the elements required by this chapter to be maintained are contained in the electronic system;

2. That, upon the request of the Department, the electronically kept records can be reproduced in hardcopy; and

3. That electronic back ups are produced daily and, at least every 30 days, the records maintained electronically are reproduced and stored off-site.

N.J. Admin. Code § 11:17C-2.6

Amended by R.1994 d.160, effective 3/21/1994.
See: 26 N.J.R. 328(a), 26 N.J.R. 1351(a).
Amended by R.2002 d.354, effective 11/4/2002.
See: 34 N.J.R. 2286(a), 34 N.J.R. 2549(b), 34 N.J.R. 3839(a).
Rewrote (c)3.