North Carolina § 53-208.52 Maintenance of records

North Carolina Statutes

§ 53-208.52 — Maintenance of records

North Carolina § 53-208.52

Ch. 53Regulation of Financial Services

Art. 16BMoney Transmitters Act

This text of North Carolina § 53-208.52 (Maintenance of records) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 53-208.52 (2026).

Text

(a)Each licensee shall maintain such books, accounts, and other records as the Commissioner may require for a period of no less than three years unless the Commissioner, by rule, prescribes otherwise for particular types of records. Such records shall be segregated from any other business in which the licensee is engaged and, at a minimum, include:

(1)A record or records of each payment instrument sold.

(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 authorized delegates.

(4)Bank statements and bank reconciliation records.

(5)Records of outstanding transmissions, payment instruments, and stored value.

(6)Records of each payment instrument paid within

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(a) Each licensee shall maintain such books, accounts, and other records as the Commissioner may require for a period of no less than three years unless the Commissioner, by rule, prescribes otherwise for particular types of records. Such records shall be segregated from any other business in which the licensee is engaged and, at a minimum, include:
(1) A record or records of each payment instrument sold.
(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 authorized delegates.
(4) Bank statements and bank reconciliation records.
(5) Records of outstanding transmissions, payment instruments, and stored value.
(6) Records of each payment instrument paid within the three-year period.
(7) A list of the names and addresses of all of the licensee's proposed authorized delegates, if any, and a copy of each written agreement in conformance with G.S. 53-208.44(c)(1).
(b) Maintenance of the documents required by this section in the form of any digital or electronic medium shall constitute compliance with this section provided records remain readily convertible into legible, tangible documents and shall be treated as originals for the purposes of any examination or investigation conducted pursuant to this Article.
(c) All records required to be maintained shall be secured against unauthorized access and damage and may be maintained at a location outside this State so long as they are made accessible to the Commissioner on seven days' written notice.
(d) All records required to be maintained under this Article shall be prepared in accordance with generally accepted accounting principles, where applicable.
(e) A licensee shall notify the Commissioner of any change in the location of its records within 10 days following such change. (2016-81, s. 1; 2017-102, s. 46.)