Okla. Admin. Code § 85:15-7-5

Current through Vol. 42, No. 4, November 1, 2024

Section 85:15-7-5 - Records

(a) A licensee shall maintain the following records for determining its compliance with the Act for at least three years:

(1) a general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;

(2) bank statements and bank reconciliation records;

(3) a list of the last known names and addresses of all of the licensee's authorized delegates; and

(4) any other records the Commissioner reasonably requires.

(b) Authorized delegates shall maintain the following records for at least three years:

(1) for each money transmission of $1,000 or more, the records specified in 31 C.F.R. § 103.33(f);

(2) all documents required to be maintained or completed by the federal Bank Secrecy Act; and

(3) any other records the Commissioner reasonably requires.

(c) The items specified in subsections (a) and (b) may be maintained in any form of record.

(d) Records may be maintained outside this State if they are made accessible to the Commissioner on seven business-days' notice that is sent in a record.

(e) All records maintained by the licensee and authorized delegates as required in subsections (a) through (d) are open to inspection by the Commissioner or the Commissioner's authorized representative, including another state agency authorized by the Commissioner.

Okla. Admin. Code § 85:15-7-5

Added at 24 Ok Reg 843, eff 5-11-07