(a) Examination by commissioner. Every licensee shall maintain and make available all books, records, accounts and other files of its premium finance transactions and such records shall be made available for examination and investigation by the commissioner or his representative. The commissioner may at any time during regular business hours examine the records at any location at which the records are maintained.

(b) Preservation of records, etc. Every licensee shall preserve all books, records, accounts and other files of the insurance premium finance transactions, including cards used in a card system, if any, for at least three years after making the final entry in respect to any insurance premium finance agreement. The preservation of records in photographic form shall constitute compliance with this requirement.