Iowa Code § 533C.606
Records
Redline — January 1, 2024 → current.View current text →
Current — January 1, 2025
As of January 1, 2024
1. A licensee shall maintain records in any form, for the purpose of determining compliance with this chapter, for at least three years, including all of the following:
1. A licensee shall maintain records in any form, for the purpose of determining compliance with this chapter, for at least three years, including all of the following:
a. A record of each outstanding money transmission obligation sold.
a. A record of each outstanding money transmission obligation sold.
b. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts.
b. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts.
c. Bank statements and bank reconciliation records.
c. Bank statements and bank reconciliation records.
d. Records or outstanding money transmission obligations.
d. Records or outstanding money transmission obligations.
e. Records of each outstanding money transmission obligation paid within the three-year period.
e. Records of each outstanding money transmission obligation paid within the three-year period.
f. A list of the last known names and addresses of all of the licensee’s authorized delegates.
f. A list of the last known names and addresses of all of the licensee’s authorized delegates.
g. Any other records the superintendent reasonably requires by rule.
g. Any other records the superintendent reasonably requires by rule.
2. Records specified in this section may be maintained outside the state if they are made accessible to the superintendent on seven business days’ notice that is sent by the superintendent in a record.
2. Records specified in this section may be maintained outside the state if they are made accessible to the superintendent on seven business days’ notice that is sent by the superintendent in a record.
3. All records maintained by the licensee as required in this section are open to inspection by the superintendent pursuant to section 533C.203.
3. All records maintained by the licensee as required in this section are open to inspection by the superintendent pursuant to section 533C.203.
NEW section
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.