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Searching 2019-2020 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 079 : MONEY SERVICES

Subchapter 005 : EXAMINATIONS; REPORTS; RECORDS

(Cite as: 8 V.S.A. § 2534)
  • § 2534. Records

    In addition to the records required by section 2119 of this title, a licensee shall maintain records for determining the licensee's compliance with this chapter. A licensee shall maintain its records for at least five years, which records shall include:

    (1) a record of each payment instrument or prepaid access 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 payment instruments and prepaid access obligations;

    (5) records of each payment instrument and prepaid access obligation paid within the five-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 requires by rule. (Added 2001, No. 55, § 1, eff. Jan. 1, 2002; amended 2019, No. 20, § 53.)