2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 17 - Money Transmission
§ 51A-17-29 Records required and open to inspection.
51A-17-29. Records required and open to inspection. Each licensee shall make, keep, and preserve the following books, accounts, and other records for a period of three years and which shall be open to inspection by the director:
(1) A record or records of each payment instrument and stored value sold;
(2) A general ledger, which general ledger shall be posted at least monthly, containing all assets, liabilities, capital, income, and expense accounts;
(3) Bank statements and bank reconciliation records;
(4) Records of outstanding payment instruments and stored value;
(5) Records of each payment instrument and stored value paid within the three-year period;
(6) A list of the names and addresses of all of the licensee's authorized delegates; and
(7) Any other records the director reasonably requires by rule promulgated pursuant to chapter 1-26.
Maintenance of such documents as are required by this section in a photographic, electronic, or other similar form constitutes compliance with this section. Records may be maintained at a location other than within this state if they are made accessible to the director on seven business days written notice.
Source: SL 2008, ch 253, ยง 29.
