§12–114.

    (a)    A licensee shall keep the books and records that the Commissioner requires to determine compliance with this subtitle.

    (b)    Unless a longer period is expressly required by State or federal law, a licensee shall retain the records required under this subtitle for a period of at least 2 years.

    (c)    A licensee may retain the records required under this subtitle at any location, if the licensee:

        (1)    Notifies the Commissioner in writing of the location of the records; and

        (2)    Makes the records available at the licensed location, as agreed by the Commissioner and the licensee, within 7 days after a written request for examination by the Commissioner.

    (d)    In addition to any other books and records that the Commissioner may require, a licensee shall retain:

        (1)    A chronological register of all payment instruments cashed by the licensee showing:

            (i)    The name of the customer;

            (ii)    The transaction date;

            (iii)    The type and amount of payment instrument;

            (iv)    The amount of fee charged; and

            (v)    A complete description of the identification presented by the customer; and

        (2)    The licensee’s bank statements and canceled checks.

    (e)    A licensee shall retain the records required under this section in one of the following ways:

        (1)    Original form;

        (2)    An electronic equivalent approved by the Commissioner; or

        (3)    A microphotographic copy approved by the Commissioner.