Section 3502.5  Authority (Repealed)

 

(Source:  Repealed at 47 Ill. Reg. 16470, effective November 1, 2023)

 

Section 3502.10  Written Application (Repealed)

 

(Source:  Repealed at 47 Ill. Reg. 16470, effective November 1, 2023)

 

Section 3502.20  Affidavit For Permission to Destroy Records (Repealed)

 

(Source:  Repealed at 47 Ill. Reg. 16470, effective November 1, 2023)

 

Section 3502.25  Definitions

 

"Non-Record" means:

 

Material not filed as evidence of the company's administrative or business activities or for the informational content of the activities;

 

Extra copies of documents or reproductions of documents maintained for convenience or reference;

 

Stocks of printed or reproduced documents kept for supply purposes, where file copies have been retained for record purposes;

 

Books, periodicals, newspapers, posters, pamphlets, and other materials made or acquired and preserved solely for reference or exhibition purposes;

 

Private materials neither made nor received by a company pursuant to law or in connection with the transaction of its business; or

 

Company dailies more than 6 months after the expiration or cancellation date of the policy if the data is, to the extent that it is material or necessary to the determination of the company’s financial condition, contained in other records.

 

"Records" means all books, papers, and documentary materials, regardless of physical form or characteristics, made, produced, executed, or received by any farm mutual company pursuant to law or in connection with the transaction of its business and preserved or appropriate for preservation by such company or its successors as evidence of the organization, function, policies, decisions, procedures, obligations, and business activities of the company or because of the informational data contained therein. If doubt arises as to whether certain materials are non-records, the materials must be treated as records.

 

(Source:  Added at 47 Ill. Reg. 16470, effective November 1, 2023)

 

Section 3502.30  Disposal and Destruction of Records

 

a)         The company is authorized to dispose of or destroy records in its custody that do not have sufficient administrative, legal or fiscal value to warrant their further preservation and are not needed:

 

1)         in the transaction of current business;

 

2)         for the final settlement or disposition of any claim arising out of a policy of insurance issued by the company, except that these records must be maintained for the current year plus 5 years; or

 

3)         to determine the company’s financial condition for the period since the date of the last examination report of the company officially filed with the Illinois Department of Insurance, except that these records must be maintained for at least the current year plus 5 years.

 

b)         Non-records may be destroyed at any time by the company in possession of them.

 

(Source:  Amended at 47 Ill. Reg. 16470, effective November 1, 2023)

 

Section 3502.40  Officially Filed Examination or Brief Explanation of Reasons For Destruction (Repealed)

 

(Source:  Repealed at 47 Ill. Reg. 16470, effective November 1, 2023)