TITLE 26

BANKS AND BANKING

CHAPTER 29

MONEY TRANSMISSION

26-2915.  Maintenance of records. (1) Each licensee shall make, keep, and preserve the following books, accounts and other records for a period of three (3) years:

(a)  A record or records of payment instruments sold;

(b)  A general ledger containing all asset, liability, capital, income and expense accounts, which general ledger shall be posted at least monthly;

(c)  Settlement sheets, if received from authorized representatives;

(d)  Bank statements and bank reconciliation records;

(e)  Records of outstanding payment instruments;

(f)  Records of each payment instrument paid within the three (3) year period;

(g)  A list of the names and addresses of all of the licensee’s authorized representatives, as well as copies of each authorized representative’s contract; and

(h)  All reports required by federal currency reporting, recordkeeping, and suspicious transaction reporting requirements as set forth in 31 U.S.C. sec. 5311, 31 CFR part 103 (2000), and other federal and state laws pertaining to money laundering.

(2)  Maintenance of such documents as are required in this section in a photographic or other similar form shall constitute compliance with the provisions of this section.

(3)  Records may be maintained at a location other than at a location within this state so long as they are made accessible to the director on seven (7) days’ written notice.

History:

[26-2915, added 1994, ch. 410, sec. 1, p. 1291; am. 2005, ch. 142, sec. 2, p. 439.]