Maine Revised Statutes Title 32 Sec. 6114 – Maintenance of records
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1. Schedule. Each licensee shall make, keep and preserve the following books, accounts and other records for a period of 3 years:
A. A record or records of each payment instrument sold; [PL 1997, c. 155, Pt. A, §2 (NEW).]
B. A general ledger posted at least monthly containing all assets, liability, capital, income and expense accounts; [PL 1997, c. 155, Pt. A, §2 (NEW).]
C. Settlement sheets received from authorized delegates; [PL 1997, c. 155, Pt. A, §2 (NEW).]
D. Bank statements and bank reconciliation records; [PL 1997, c. 155, Pt. A, §2 (NEW).]
E. Records of outstanding payment instruments; [PL 1997, c. 155, Pt. A, §2 (NEW).]
F. Records of each payment instrument paid within the 3-year period; and [PL 1997, c. 155, Pt. A, §2 (NEW).]
G. A list of the names and addresses of all of the licensee’s authorized delegates. [PL 1997, c. 155, Pt. A, §2 (NEW).]
[PL 1997, c. 155, Pt. A, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 32 Sec. 6114
- Administrator: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 6102
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Licensee: means a person licensed under this subchapter. See Maine Revised Statutes Title 32 Sec. 6102
- Payment instrument: means a check, draft, money order, travelers check or other instrument or written order for the transmission or payment of money, sold or issued to one or more persons, whether or not the instrument is negotiable. See Maine Revised Statutes Title 32 Sec. 6102
2. Electronic form. Maintenance of the documents as required by this section in a photographic, electronic or other similar form constitutes compliance with this section.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
3. Location. With the approval of the administrator, records may be maintained at a location outside this State so long as they are made accessible to the administrator on 7 days’ written notice.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 1997, c. 155, §A2 (NEW).