(a) Each licensee and permittee shall keep a complete set of all records necessary to show all business transactions of the licensee or permittee, all of which must be open for the inspection and examination by the OCR or its duly authorized representatives. The OCR may require any licensee or permittee to furnish information it considers necessary for the proper administration of the chapter.
(b) The Licensed Premises are subject to inspection by the OCR during all business hours and other times of apparent activity for inspection or investigation. For examination of any inventory or books and records required to be kept by the licensees, access is required during business hours. Where any part of the Licensed Premises consists of a locked area, upon demand to the licensee, the area must be made available for inspection without delay.
(c) Each licensee and permittee shall retain all books and records necessary to show fully the business transactions of the licensee for a period of the current tax year and the immediately preceding seven tax years.