(1) A licensee shall maintain the following records, for determining its compliance with this chapter for at least five (5) years:(a) A record of each money transmission obligation sold;(b) A general ledger posted at least monthly containing all asset, liability, capital, income and expense accounts;(c) Bank statements and bank reconciliation records;(d) Records of outstanding money transmission;(e) Records of each outstanding money transmission obligation paid within the five-year period;(f) A list of the last-known names and addresses of all of the licensee’s authorized delegates; and(g) Any other records the commissioner requires by rule, regulation or order.
(a) A record of each money transmission obligation sold;
(b) A general ledger posted at least monthly containing all asset, liability, capital, income and expense accounts;
(c) Bank statements and bank reconciliation records;
(d) Records of outstanding money transmission;
(e) Records of each outstanding money transmission obligation paid within the five-year period;
(f) A list of the last-known names and addresses of all of the licensee’s authorized delegates; and
(g) Any other records the commissioner requires by rule, regulation or order.
(2) The items specified in subsection (1) of this section may be maintained in photographic, electronic or other similar form.
(3) Records specified in subsection (1) of this section may be maintained outside this state if they are made accessible to the commissioner on seven (7) business days’ notice that is sent in a record.
(4) All records maintained by the licensee as required in subsections (1) through (3) of this section are open to inspection by the commissioner pursuant to Section 75-16-15(1).