§6114. Maintenance of records
1. Schedule.
Each licensee shall make, keep and preserve the following books, accounts and other
records for a period of 3 years:
A. A record or records of each payment instrument sold; [1997, c. 155, Pt. A, §2 (NEW).]
B. A general ledger posted at least monthly containing all assets, liability, capital,
income and expense accounts; [1997, c. 155, Pt. A, §2 (NEW).]
C. Settlement sheets received from authorized delegates; [1997, c. 155, Pt. A, §2 (NEW).]
D. Bank statements and bank reconciliation records; [1997, c. 155, Pt. A, §2 (NEW).]
E. Records of outstanding payment instruments; [1997, c. 155, Pt. A, §2 (NEW).]
F. Records of each payment instrument paid within the 3-year period; and [1997, c. 155, Pt. A, §2 (NEW).]
G. A list of the names and addresses of all of the licensee's authorized delegates. [1997, c. 155, Pt. A, §2 (NEW).]
[
1997, c. 155, Pt. A, §2 (NEW)
.]
2. Electronic form.
Maintenance of the documents as required by this section in a photographic, electronic
or other similar form constitutes compliance with this section.
[
1997, c. 155, Pt. A, §2 (NEW)
.]
3. Location.
With the approval of the administrator, records may be maintained at a location
outside this State so long as they are made accessible to the administrator on 7 days'
written notice.
[
1997, c. 155, Pt. A, §2 (NEW)
.]
SECTION HISTORY
1997, c. 155, §A2 (NEW).