2018 California Code
Financial Code - FIN
DIVISION 1.2 - MONEY TRANSMISSION ACT
CHAPTER 7 - Examinations, Special Reports, and Records
(a) A licensee shall maintain the following records for determining its compliance with this division for at least three years:
(1) A record of each payment instrument or stored value 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 payment instruments and stored value obligations.
(5) Records of each payment instrument and stored-value obligation paid within the three-year period.
(6) A list of the last known names and addresses of all of the licensee’s agents and their branch offices.
(7) Any other records the commissioner reasonably requires by order or regulation.
(b) A licensee or its agent shall maintain records of any receipts provided pursuant to Section 2102 for six months or a longer period of time specified in the contract between the licensee and its agent.
(c) The items specified in subdivisions (a) and (b) may be maintained in any form of record.
(d) Records may be maintained outside this state if they are made available to the commissioner on seven days’ notice that is sent in a record.
(e) If records not required to be maintained in English pursuant to Section 456 are in a language other than English, the licensee shall provide records translated into English within seven days’ notice that is sent in a record.
(f) Each licensee shall maintain any other records required by the commissioner.
(Amended by Stats. 2014, Ch. 499, Sec. 15. (AB 2209) Effective January 1, 2015.)