{"data":{"id":"us-md/md.-code-financial-institutions-12-114","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 12–114","heading":"","body":"(a) A licensee shall keep the books and records that the Commissioner requires to determine compliance with this subtitle.\n(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.\n(c) A licensee may retain the records required under this subtitle at any location, if the licensee:\n(1) Notifies the Commissioner in writing of the location of the records; and\n(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.\n(d) In addition to any other books and records that the Commissioner may require, a licensee shall retain:\n(1) A chronological register of all payment instruments cashed by the licensee showing:\n(i) The name of the customer;\n(ii) The transaction date;\n(iii) The type and amount of payment instrument;\n(iv) The amount of fee charged; and\n(v) A complete description of the identification presented by the customer; and\n(2) The licensee’s bank statements and canceled checks.\n(e) A licensee shall retain the records required under this section in one of the following ways:\n(1) Original form;\n(2) An electronic equivalent approved by the Commissioner; or\n(3) A microphotographic copy approved by the Commissioner.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=12-114","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"509893e1ba3bcbf77ce65ef67963c0ca0e78b9f203d845a2fef56439e0cb948a","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-12-113","next":"us-md/md.-code-financial-institutions-12-115"},"notice":"GroundRules: Original legal text. Not legal advice."}