(a) A licensee shall maintain the following records for at least three (3) years: (1) A record of each outstanding money transmission obligation sold;(2) A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;(3) Bank statements and bank reconciliation records;(4) Records of outstanding money transmission obligations;(5) Records of each outstanding money transmission obligation paid within the three-year period;(6) A list of the last known names and addresses of all of the licensee's authorized delegates; and(7) Any other records the commissioner reasonably requires.(b) The items specified in subsection (a) may be maintained in any form of record.(c) Records specified in subsection (a) may be maintained outside this state if they are made accessible to the commissioner upon the commissioner's request.(d) All records maintained by the licensee as required by subsection (a) are open to inspection by the commissioner pursuant to § 45-7-107.Amended by 2023 Tenn. Acts, ch. 115, s 1, eff. 1/1/2024.Acts 1994, ch. 715, § 1; T.C.A., § 45-7-225.
Tennessee Legal Code