(1) A third-party account administrator shall maintain the following records for at least five years: (a) All contracts the third-party account administrator has entered into with debtors and debt adjusters; (b) Account statements identifying and itemizing deposits, transfers, disbursements, and fees; and (c) Any other records required in rule by the director. (2) All records maintained by the third-party account administrator are open to inspection by the director or the director's designee.
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