Virginia § 6.2-1916 (Repealed effective July 1, 2026) Retention of books, accounts, and records

Virginia Statutes

§ 6.2-1916 — (Repealed effective July 1, 2026) Retention of books, accounts, and records

Virginia § 6.2-1916

Title 6.2FINANCIAL INSTITUTIONS AND SERVICES

Subtitle IIIOTHER REGULATED PROVIDERS OF FINANCIAL SERVICES

Ch. 19MONEY ORDER SELLERS AND MONEY TRANSMITTERS

This text of Virginia § 6.2-1916 ((Repealed effective July 1, 2026) Retention of books, accounts, and records) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 6.2-1916 (2026).

Text

A.Every licensee shall maintain in its principal place of business such books, accounts, and records as the Commission may reasonably require in order to determine whether such licensee is complying with the provisions of this chapter and other laws applicable to the conduct of its licensed business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the licensee is involved.

B.Each licensee shall retain the following records for at least three years:

1.A record of each money transmission transaction and money order sold;

2.A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;

3.Bank statements and bank reconciliation records;

4.Records of outstanding money orders an

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A. Every licensee shall maintain in its principal place of business such books, accounts, and records as the Commission may reasonably require in order to determine whether such licensee is complying with the provisions of this chapter and other laws applicable to the conduct of its licensed business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the licensee is involved.

B. Each licensee shall retain the following records for at least three years:

1. A record of each money transmission transaction and money order sold;

2. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;

3. Bank statements and bank reconciliation records;

4. Records of outstanding money orders and money transmission transactions;

5. Records of each money order and money transmission transaction paid or completed within the three-year period; and

6. A list of the names, addresses, and telephone numbers of all of the licensee's authorized delegates.

C. Each licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business. A licensee shall furnish copies of its policies and procedures, as amended, to all of its authorized delegates.