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District of Columbia Code Division V. Local Business Affairs § 26-1014. Maintenance of records.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Each licensee, shall make, keep and preserve the following books, accounts and other records for a period of 3 years:

(1) A record of each payment instrument sold;

(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 authorized delegates;

(4) Bank statements and bank reconciliation records;

(5) Records of outstanding payment instruments;

(6) Records of each payment instrument paid within the 3 year period;

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

(8) Records it is required to maintain pursuant to 31 C.F.R. Part 103.

(b) Maintenance of such documents as are required by this section in a photographic, electronic, or other similar form shall constitute compliance with this section.

(c) Records may be maintained at a location other than within the District of Columbia so long as they are made accessible to the Superintendent [Commissioner] within 7 days of written notice by the Superintendent [Commissioner].

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 26-1014. Maintenance of records. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-26-1014/

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