(a)
- (1) A broker shall keep a record of each transaction.
(2) The record shall show:
- (A) The name and address of the consignor;
- (B) The name, address, and lead Arkansas authority MC number of the originating motor carrier;
- (C) The bill of lading or freight bill number;
- (D) The amount of compensation received by the broker for the brokerage service performed and the name of the payer;
- (E) A description of any nonbrokerage service performed in connection with each shipment or other activity, the amount of compensation received for the service, and the name of the payer; and
- (F) The amount of any freight charges collected by the broker and the date of payment to the carrier.
- (2) For the purpose of this subsection, brokers may keep master lists of consignors and the address and lead Arkansas authority MC number of the carrier, rather than repeating this information for each transaction.
- (b) Brokers shall keep the records required by this section for a period of three (3) years.
- (c) Each party to a brokered transaction has the right to review the record of the transaction required to be kept by this subpart.