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Maine Revised Statutes Title 32. Professions and Occupations § 6100-E. Records

Current as of January 01, 2025 | Updated by Findlaw Staff

Records maintenance is governed by this section.

1. Required records. A licensee shall maintain for at least 3 years the following records for determining its compliance with this Act:

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 of outstanding money transmission obligations;

E. Records of each outstanding money transmission obligation paid within the 3-year period;

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

G. Any other records the administrator may reasonably require by rule.

2. Form of records. The items specified in subsection 1 may be maintained in any form of record as long as the records can be viewed without special equipment and can be copied using methods commonly used in business.

3. Records outside this State. Records specified in subsection 1 may be maintained outside this State if they are made accessible to the administrator on 7 business days' notice.

4. Inspection. All records maintained by the licensee as required in subsections 1 to 3 are open to inspection by the administrator pursuant to section 6081, subsection 1.

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Cite this article: FindLaw.com - Maine Revised Statutes Title 32. Professions and Occupations § 6100-E. Records - last updated January 01, 2025 | https://codes.findlaw.com/me/title-32-professions-and-occupations/me-rev-st-tit-32-sect-6100-e/

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