Section 361.972

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 361

Effective - 28 Aug 2024   

  361.972.  Records. — 1.  A licensee shall maintain the following records for determining its compliance with sections 361.900 to 361.1035 for at least three years:

  (1)  A record of each outstanding money transmission obligation sold;

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

  (3)  Bank statements and bank reconciliation records;

  (4)  Records of outstanding money transmission obligations;

  (5)  Records of each outstanding money transmission obligation paid within the three-year period;

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

  (7)  Any other records the director reasonably requires by rule.

  2.  The items specified in subsection 1 of this section may be maintained in any form of record.

  3.  Records specified in subsection 1 of this section may be maintained outside this state if the records are made accessible to the director on seven business days' notice that is sent in a record.

  4.  All records maintained by the licensee as required in subsections 1 to 3 of this section are open to inspection by the director under subsection 1 of section 361.921.

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(L. 2024 S.B. 1359)