(a) Every licensee shall prepare and preserve the accounts, records, and memoranda
required by this chapter which shall fully and correctly disclose all transactions
involved in his business. Licensees shall keep records which are adapted to the particular business that the
licensee is conducting and in each case such records shall fully disclose all transactions
in the business in sufficient detail as to be readily understood and audited. Minimum records required under this chapter are:
1. A record of cash received.
2. A record of cash disbursed.
3. A general ledger or its equivalent.
4. A record of amounts due California producers.
5. A record of amounts due others.
(b) Every licensee shall prepare and preserve records and memoranda required by this
chapter which shall fully and correctly disclose the true ownership and management
of such business.
(c) All records required to be kept under this chapter shall be kept for a period
of four years.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.