[§489D-18] Maintenance of records. (a) Each licensee shall make, keep, preserve, and make available for inspection by the commissioner the following books, accounts, and other records for a period of three years:
(1) A record or records of each payment instrument;
(2) A general ledger containing all assets, liability, capital, income, and expense accounts that shall be posted at least monthly;
(3) Bank statements and bank reconciliation records;
(4) Records of outstanding payment instruments;
(5) Records of each payment instrument paid within the three-year period;
(6) A list of the names and addresses of all of the licensee's authorized delegates; and
(7) Any other records the commissioner reasonably requires by rule adopted pursuant to chapter 91.
(b) Maintenance of documents in a photographic, electronic, or other similar form shall comply with this section.
(c) Records may be maintained at a location outside the State; provided that these records are made accessible to the commissioner within seven business days of receipt of a written notice issued by the commissioner. [L 2006, c 153, pt of §1]
Section: Previous 489d-12.5 489d-13 489d-14 489d-14.5 489d-15 489d-16 489d-17 489d-18 489d-19 489d-20 489d-21 489d-22 489d-22.5 489d-23 489d-24 NextLast modified: October 27, 2016