State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-208_16

§ 53‑208.16. Maintenance of records and certificate of authority.

(a)        Each licensee shallmake, keep, and preserve the following books, accounts, and other records for aperiod of three years:

(1)        A record or recordsof each payment instrument sold.

(2)        A general ledgercontaining all assets, liability, capital, income, and expense accounts, whichgeneral ledger shall be posted at least monthly.

(3)        Settlement sheetsreceived from authorized delegates.

(4)        Bank statements andbank reconciliation records.

(5)        Records ofoutstanding payment instruments and stored value.

(6)        Records of eachpayment instrument paid within the three‑year period.

(7)        A list of the namesand addresses of all of the licensee's authorized delegates, if any.

(b)        Maintenance of thedocuments required by this section in a photographic, electronic, or othersimilar form shall constitute compliance with this section.

(c)        Records may bemaintained at a location other than within this State so long as they are madeaccessible to the Commissioner on seven days' written notice. (2001‑443, s. 2.)