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Indiana Code Title 28. Financial Institutions § 28-8-4.1-706

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 706. (a) A licensee shall maintain the following records, for use in determining its compliance with this chapter, for at least three (3) 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 during the three (3) year period described in this section.

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

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

(b) The items described in subsection (a) may be maintained in any form of record.

(c) The records described in this section may be maintained outside Indiana if they are made accessible to the department upon at least seven (7) business days advance notice that is sent by the director in a record.

(d) All records maintained by the licensee under this section are open to inspection by the department under section 403(a) of this chapter.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-8-4.1-706 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-8-4-1-706/

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