There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 9. Deferred Deposit Service Business and Check Cashing
286.9.074 Recordkeeping requirements of licensees.
Download pdfprovisions of this subtitle and the administrative regulations promulgated under this
subtitle. Every licensee shall preserve the books, accounts, financial reports, and
records for a minimum of three (3) years, unless applicable state or federal law
requires a longer retention period. (2) Records required to be preserved under this section may be maintained in an electronic retrievable format, or other similar form of medium, provided that it is
readily accessible to examination, investigation, and inspection by the
commissioner. (3) Any person who ceases operating a business licensed under this subtitle shall, at least thirty (30) days prior to the discontinuance of the business, notify the
commissioner in writing of the physical location where the records required to be
kept under this subtitle will be preserved or archived. The records shall be made
accessible to the commissioner upon five (5) business days' written notice. (4) Any person who ceases operating as a business licensed under this subtitle shall designate a custodian of records and notify the commissioner of the name, physical
address, electronic mail address, and telephone number of the custodian of records.
The custodian of records shall preserve all records required under this subtitle and
allow the commissioner access to the records for examination and investigation
upon demand. (5) The commissioner may approve a written request for the destruction of records required to be preserved under this subtitle prior to the minimum retention period
described in subsection (1) of this section. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 806, effective July 15, 2010. -- Created 2009 Ky. Acts ch. 98, sec. 15, effective January 1, 2010.
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