Records maintenance is governed by this section.

1. 1. Required records A licensee shall maintain for at least 3 years the following records for determining its compliance with this Act:

   1. A. A record of each outstanding money transmission obligation sold;

      [PL 2023, c. 662, §2 (NEW).]

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

      [PL 2023, c. 662, §2 (NEW).]

   3. C. Bank statements and bank reconciliation records;

      [PL 2023, c. 662, §2 (NEW).]

   4. D. Records of outstanding money transmission obligations;

      [PL 2023, c. 662, §2 (NEW).]

   5. E. Records of each outstanding money transmission obligation paid within the 3-year period;

      [PL 2023, c. 662, §2 (NEW).]

   6. F. A list of the last known names and addresses of all of the licensee's authorized delegates; and

      [PL 2023, c. 662, §2 (NEW).]

   7. G. Any other records the administrator may reasonably require by rule.

      [PL 2023, c. 662, §2 (NEW).]

   [PL 2023, c. 662, §2 (NEW).]

2. 2. Form of records The items specified in subsection 1 may be maintained in any form of record as long as the records can be viewed without special equipment and can be copied using methods commonly used in business.

   [PL 2023, c. 662, §2 (NEW).]

3. 3. Records outside this State Records specified in subsection 1 may be maintained outside this State if they are made accessible to the administrator on 7 business days' notice.

   [PL 2023, c. 662, §2 (NEW).]

4. 4. Inspection All records maintained by the licensee as required in subsections 1 to 3 are open to inspection by the administrator pursuant to section 6081, subsection 1.

   [PL 2023, c. 662, §2 (NEW).]

PL 2023, c. 662, §2 (NEW).