361.972. Records.

196 words·~1 min read·/mo/chapter-361/361-972

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

361.972. Records. — 1. A licensee shall maintain the following records for determining its compliance with sections 361.900 to 361.1035 for at least three years:

(1)A record of each outstanding money transmission obligation sold;

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

(3)Bank statements and bank reconciliation records;

(4)Records of outstanding money transmission obligations;

(5)Records of each outstanding money transmission obligation paid within the three-year period;

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

(7)Any other records the director reasonably requires by rule.

2. The items specified in subsection 1 of this section may be maintained in any form of record.

3. Records specified in subsection 1 of this section may be maintained outside this state if the records are made accessible to the director on seven business days' notice that is sent in a record.

4. All records maintained by the licensee as required in subsections 1 to 3 of this section are open to inspection by the director under subsection 1 of section 361.921 .

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(L. 2024 S.B. 1359)