(1) Each licensee shall make, keep and preserve the following books, accounts and other records for a period of three years:
(a) A record of each payment instrument sold;
(b) A general ledger, posted at least once per month, containing all assets, liabilities, capital, income and expense accounts;
(c) Settlement sheets received from authorized delegates;
(d) Bank statements and bank reconciliation records;
(e) Records of outstanding payment instruments;
(f) Records of each payment instrument paid within the three-year period; and
(g) A list of the names and addresses of all the licensee’s authorized delegates.
(2) Books, accounts and other records required to be maintained under subsection (1) of this section may be maintained:
(a) In a photographic, electronic or other similar form.
(b) At a location outside this state, so long as the books, accounts and other records are made accessible to the Director of the Department of Consumer and Business Services following seven days’ written notice. [1999 c.571 §14]Section: Previous 717.225 717.230 717.235 717.240 717.245 717.250 717.255 717.260 717.265 717.270 717.275 717.280 717.285 717.290 717.295 Next
Last modified: August 7, 2008