Kansas § 9-578 Records retention; open inspection by the commissioner

Kansas Statutes

§ 9-578 — Records retention; open inspection by the commissioner

Kansas·Ch. 9 BANKS AND BANKING; TRUST COMPANIES·Art. 5 MISCELLANEOUS PROVISIONS

(a)Every licensee shall maintain the following records 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 assets, liability, capital, income and expense accounts;

(3)bank statements and bank reconciliation records;

(4)records of all outstanding money transmission obligations;

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

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

(7)any other records the commissioner reasonably requires in rules and regulations.

(b)Records specified in subsection (a) may be maintained:

(1)In any form of record; and

(2)outside this sta

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(a) Every licensee shall maintain the following records 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 assets, liability, capital, income and expense accounts;
(3) bank statements and bank reconciliation records;
(4) records of all outstanding money transmission obligations;
(5) records of each outstanding money transmission obligation paid within the three-year period the records are maintained;
(6) a list of the last known names and addresses of all the licensee's authorized delegates; and
(7) any other records the commissioner reasonably requires in rules and regulations.
(b) Records specified in subsection (a) may be maintained:
(1) In any form of record; and
(2) outside this state, if such records are made accessible to the commissioner on seven business days' notice.
(c) All records maintained by the licensee as required in this section are open to inspection by the commissioner pursuant to K.S.A. 2024 Supp. 9-559(a), and amendments thereto.
(d) This section shall take effect on and after January 1, 2025.

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