20-290. Insurance producer records; individual licensees
A. An insurance producer shall keep at the insurance producer's principal place of business the usual and customary records that pertain to transactions under the insurance producer's license. The insurance producer shall keep all records for any transaction for three years immediately after the date of completion of the transaction and shall make them available and open to the inspection of the director at any business time during those three years.
B. A business entity insurance producer shall have at least one insurance producer individually licensed for the appropriate lines of authority in each office or place of business in which the business entity transacts insurance in this state.
Notes of Decisions
Sparks v. Repub. Nat'l Life Ins., 647 P.2d 1127 (Ariz. 1982).
· cites it 4× “A.R.S. § 20-290(A). It merely provides that a "broker" may not "by his own acts" obligate the insurer and does not prevent an insurer from bestowing authority on the broker to perform specified acts.”
Darner Motor Sales, Inc. v. Universal Underwriters Ins., 682 P.2d 388 (Ariz. 1984).
· cites it 2× “§ 41-1034 [§ 20-290, 7 A.R.S.]. An insurance agent performs a personal service for his client, in advising him about the kinds and extent of desired coverage and in choosing the appropriate insurance contract for the insured.”
— Ariz. Rev. Stat. § 20-290(A) — 1 case
Sparks v. Repub. Nat'l Life Ins., 647 P.2d 1127 (Ariz. 1982).
“A.R.S. § 20-290(A). It merely provides that a "broker" may not "by his own acts" obligate the insurer and does not prevent an insurer from bestowing authority on the broker to perform specified acts.”
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