§489D-18 Maintenance of records.

189 words·~1 min read·/hi/489d-18

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Each licensee shall make, keep, preserve, and make available for inspection by the commissioner the following books, accounts, and other records for a period of three years:

(1)A record or records of each payment instrument;

(2)A general ledger containing all assets, liability, capital, income, and expense accounts that shall be posted at least monthly;

(3)Bank statements and bank reconciliation records;

(4)Records of all outstanding money transmission obligations;

(5)Records of each payment instrument paid within the three-year period;

(6)A list of the names and addresses of all of the licensee's authorized delegates; and

(7)Any other records the commissioner reasonably requires by rule adopted pursuant to chapter 91.

(b)Maintenance of documents in a photographic, electronic, or other similar form shall comply with this section.

(c)Records may be maintained at a location outside the State; provided that these records are made accessible to the commissioner within seven business days of receipt of a written notice issued by the commissioner. [L 2006, c 153, pt of §1; am L 2017, c 45, §7; am L 2023, c 183, §6]