(a)Each licensee shall make and preserve the following books, accounts, and records for a period of at least 3 years:
(1)A record of each money transmission conducted;
(2)A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly;
(3)Settlement sheets received from each authorized delegate;
(4)Bank statements and bank reconciliation records;
(5)Records of outstanding money transmissions;
(6)Records of each money transmission conducted within the 3–year period;
(7)A list of the names and addresses of all the licensee’s authorized delegates, past and present; and
(8)A list of the dates that the trainin
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(a) Each licensee shall make and preserve the following books, accounts, and records for a period of at least 3 years:
(1) A record of each money transmission conducted;
(2) A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly;
(3) Settlement sheets received from each authorized delegate;
(4) Bank statements and bank reconciliation records;
(5) Records of outstanding money transmissions;
(6) Records of each money transmission conducted within the 3–year period;
(7) A list of the names and addresses of all the licensee’s authorized delegates, past and present; and
(8) A list of the dates that the training materials required under § 12–413.1 of this subtitle were provided to the licensee’s authorized delegates, agents, and subdelegates.
(b) A licensee shall retain the records required under this section in:
(1) Original form; or
(2) Photographic, electronic, or other similar form.
(c) A licensee may retain the records required under this section at any location, provided that the licensee:
(1) Notifies the Commissioner in writing of the location of the records; and
(2) Makes the records available at a place of business for which a license has been issued, as agreed by the Commissioner and the licensee, within 7 days after a written request for examination by the Commissioner.