Maryland Financial Institutions Section 12-114

      (a)      A licensee shall keep the books and records that the Commissioner requires to determine compliance with this subtitle.

      (b)      Unless a longer period is expressly required by State or federal law, a licensee shall retain the records required under this subtitle for a period of at least 2 years.

      (c)      A licensee may retain the records required under this subtitle at any location, provided that the licensee:

            (1)      Notifies the Commissioner in writing of the location of the records; and

            (2)      Makes the records available at a place of business for which a license has been issued or at the licensee's principal place of business, as agreed by the Commissioner and the licensee, within 7 days of a written request for examination by the Commissioner.

      (d)      In addition to any other books and records that the Commissioner may require, a licensee shall retain:

            (1)      A chronological register of all payment instruments cashed by the licensee showing:

                  (i)      The name of the customer;

                  (ii)      The transaction date;

                  (iii)      The type and amount of payment instrument;

                  (iv)      The amount of fee charged; and

                  (v)      A complete description of the identification presented by the customer; and

            (2)      The licensee's bank statements and canceled checks.

      (e)      A licensee shall retain the records required under this section in one of the following ways:

            (1)      Original form;

            (2)      An electronic equivalent approved by the Commissioner; or

            (3)      A microphotographic copy approved by the Commissioner.