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[Cites 0, Cited by 0] [Section 39] [Entire Act]

Union of India - Subsection

Section 39(3) in The Insurance Rules, 1939

(3)The following item of information shall be maintained for the business of the insurer as a whole, namely:--
(i)a register of agents, giving in respect of each agent, name, address and particulars of agents' license held, date of appointment and date of termination of appointment, if any:
Provided that a collection of cards or folios shall be deemed sufficient compliance with this requirement if they are filed in a systematic order and contain all the information required under this clause;
(ii)a record of agents giving particulars of business procured by each agent, the amount of premium received on such business and the amount of commission paid thereon;
(iii)duplicate copies of appointment letters issued to the agents, field workers and members of the staff and changes therein;
(iv)a record of employees, excluding salaried field workers, showing name, date of appointment, present designation, present salary and cross-reference to appointment letter and date of termination, if any;
(v)a record of field workers showing name, date of appointment, present designation, and present salary, showing the business expected from and written by them with cross-reference to appointment letters and date of termination, if any;
(vi)cash book and disbursement book;
(vii)a record of investments giving separately for immovable property, securities and scripts, loans on mortgages and other loans, particulars of all the investments held showing the changes occurring therein from time to time;
(viii)a record of other assets, such as, deposits, amounts due, sundry debtors, furniture and fixtures, stationery, and cash in hand and with Banks:
Provided that in respect of cash in hand and with Banks the requirements of this clause shall be deemed to be complied with if the information about the amount of such cash is readily available from the cash book or other records.