(a) A licensee shall keep the books and records that the Commissioner requires to determine compliance with this subtitle. (b) Unless a longer period is expressly required by State or federal law, a licensee shall retain the records required under this subtitle for a period of at least 2 years. (c) A licensee may retain the records required under this subtitle at any location, if the licensee: (1) Notifies the Commissioner in writing of the location of the records; and (2) Makes the records available at the licensed location, as agreed by the Commissioner and the licensee, within 7 days after a written request for examination by the Commissioner. (d) In addition to any other books and records that the Commissioner may require, a licensee shall retain: (1) A chronological register of all payment instruments cashed by the licensee showing: (i) The name of the customer; (ii) The transaction date; (iii) The type and amount of payment instrument; (iv) The amount of fee charged; and (v) A complete description of the identification presented by the customer; and (2) The licensee's bank statements and canceled checks. (e) A licensee shall retain the records required under this section in one of the following ways: (1) Original form; (2) An electronic equivalent approved by the Commissioner; or (3) A microphotographic copy approved by the Commissioner.
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