§ 51A-17-89 — Maintenance of records.

(1) Licensee shall maintain the following records, for determining its compliance with this chapter for at least three years: (a) A record of each outstanding money transmission obligation sold; (b) A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts; (c) Bank statements and bank reconciliation records; (d) Records of outstanding money transmission obligations; (e) Records of each outstanding money transmission obligation paid within the three-year period; (f) A list of the last known names and addresses of all of the licensee's authorized delegates; and (g) Any other records the director reasonably requires by rule. (2) The items specified in subdivision (1) of this section may be maintained in any form of record. (3) Records specified in subdivision (1) of this section may be maintained outside this state if the records are made accessible to the director on seven business-days' notice that is sent in a record. (4) All records maintained by the licensee as required in this section are open to inspection by the director pursuant to subdivision 51A-17-56 (1).

Legislative History

SL 2024, ch 196, § 38.