Section 83: Accounts to be maintained accurately

1) The insurance company shall have to maintain its accounts, books, and records precisely and correctly.

2) The accounts to be maintained pursuant to sub-section (1) shall have to be maintained according to the recognised principle of a double-entry bookkeeping system reflecting the exact status of transactions of the insurance company.

3) Unless otherwise approved by the Nepal Insurance Authority, the accounts and other statements to be maintained pursuant to sub-section (1) shall have to be maintained at its head/ central office.

4) Other provisions related to accounts of an insurance company shall be as prescribed.