(a) Each licensee shall make and preserve the following books, accounts, and records for a period of at least 3 years: (1) A record of each money transmission conducted; (2) A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly; (3) Settlement sheets received from each authorized delegate; (4) Bank statements and bank reconciliation records; (5) Records of outstanding money transmissions; (6) Records of each money transmission conducted within the 3-year period; (7) A list of the names and addresses of all the licensee's authorized delegates, past and present; and (8) A list of the dates that the training materials required under § 12-413.1 of this subtitle were provided to the licensee's authorized delegates, agents, and subdelegates. (b) A licensee shall retain the records required under this section in: (1) Original form; or (2) Photographic, electronic, or other similar form. (c) A licensee may retain the records required under this section at any location, provided that the licensee: (1) Notifies the Commissioner in writing of the location of the records; and (2) Makes the records available at a place of business for which a license has been issued, as agreed by the Commissioner and the licensee, within 7 days after a written request for examination by the Commissioner.
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