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Iowa Code Title XIII. Commerce [Chs. 505-554D] § 533C.606. Records

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

<[Text subject to final changes by the Iowa Code Editor for Code 2024.]>

1. A licensee shall maintain records in any form, for the purpose of determining compliance with this chapter, for at least three years, including all of the following:

a. A record of each outstanding money transmission obligation sold.

b. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts.

c. Bank statements and bank reconciliation records.

d. Records or outstanding money transmission obligations.

e. Records of each outstanding money transmission obligation paid within the three-year period.

f. A list of the last-known names and addresses of all of the licensee's authorized delegates.

g. Any other records the superintendent reasonably requires by rule.

2. Records specified in this section may be maintained outside the state if they are made accessible to the superintendent on seven business days' notice that is sent by the superintendent in a record.

3. All records maintained by the licensee as required in this section are open to inspection by the superintendent pursuant to section 533C.203.

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Cite this article: FindLaw.com - Iowa Code Title XIII. Commerce [Chs. 505-554D] § 533C.606. Records - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xiii-commerce-chs-505-554d/ia-code-sect-533c-606/

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