TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE SUBCHAPTER mm: FARM MUTUAL INSURANCE COMPANY ACT OF 1986 PART 3502 DISPOSAL AND DESTRUCTION OF RECORDS SECTION 3502.25 DEFINITIONS
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) |