2015 North Carolina General Statutes
Chapter 53 - Regulation of Financial Services.
Article 16A - Money Transmitters Act.
§ 53-208.16 - 16. Maintenance of records and certificate of authority.
53-208.16. Maintenance of records and certificate of authority.
(a) Each licensee shall make, keep, and preserve the following books, accounts, and other records for a period of three years:
(1) A record or records of each payment instrument sold.
(2) A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly.
(3) Settlement sheets received from authorized delegates.
(4) Bank statements and bank reconciliation records.
(5) Records of outstanding payment instruments and stored value.
(6) Records of each payment instrument paid within the three-year period.
(7) A list of the names and addresses of all of the licensee's authorized delegates, if any.
(b) Maintenance of the documents required by this section in a photographic, electronic, or other similar form shall constitute compliance with this section.
(c) Records may be maintained at a location other than within this State so long as they are made accessible to the Commissioner on seven days' written notice. (2001-443, s. 2.)
Disclaimer: These codes may not be the most recent version. North Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
