Section 6611. Records

(a)  (1)  Every  co-operative  property/casualty
  insurance company shall keep and maintain books of account  and  records
  in  such  manner as will show fully and truly the condition, affairs and
  business  of  such  corporation  and  facilitate  the  preparation   and
  verification of its annual statements.
    (2) Such records shall be available for inspection by any policyholder
  of the corporation during ordinary business hours.
    (3)   The  secretary  shall  maintain  a  minute  book  recording  the
  proceedings of all meetings of the corporation, its board  of  directors
  and the principal committees thereof.
    (4)  (A)  The  books  of account shall include a cash book and general
  ledger together with the necessary supplemental and  subsidiary  records
  including  a  loss  register showing all losses of which the corporation
  has had notice and the disposition or settlement thereof and a record of
  its investments.
    (B) All cash and checks collected including  policy  and  survey  fees
  shall be reported as income.
    (C) All checks issued shall be signed either by two officers or by one
  officer  upon  the written order of another officer, except as otherwise
  provided by resolution of the corporation's board of directors or in its
  by-laws for handling of miscellaneous expenses.
    (D) Checkbook stubs, bank statements and  cancelled  checks  shall  be
  kept on file for at least seven years.
    (b)  The records of a co-operative property/casualty insurance company
  shall also include a policy register in  such  form  as  will  show  all
  policies  issued  in  consecutive numerical order in one or more series,
  and a register of gross premiums or assessments in force and reinsurance
  premiums in force summarized by terms and expirations and  supported  by
  monthly  or  quarterly tabulations of the premiums written and cancelled
  during such periods.
    (c) The records of an assessment corporation  shall  also  include  an
  assessment  register  which  may  be  combined with the policy register,
  showing the rates and amount charged and dates  of  collections,  and  a
  loan or note record showing all such transactions.