{"data":{"id":"us-md/md.-code-financial-institutions-12-425","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 12–425","heading":"","body":"(a) Each licensee shall make and preserve the following books, accounts, and records for a period of at least 3 years:\n(1) A record of each money transmission conducted;\n(2) A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly;\n(3) Settlement sheets received from each authorized delegate;\n(4) Bank statements and bank reconciliation records;\n(5) Records of outstanding money transmissions;\n(6) Records of each money transmission conducted within the 3–year period;\n(7) A list of the names and addresses of all the licensee’s authorized delegates, past and present; and\n(8) A list of the dates that the training materials required under § 12–413.1 of this subtitle were provided to the licensee’s authorized delegates, agents, and subdelegates.\n(b) A licensee shall retain the records required under this section in:\n(1) Original form; or\n(2) Photographic, electronic, or other similar form.\n(c) A licensee may retain the records required under this section at any location, provided that the licensee:\n(1) Notifies the Commissioner in writing of the location of the records; and\n(2) Makes the records available at a place of business for which a license has been issued, as agreed by the Commissioner and the licensee, within 7 days after a written request for examination by the Commissioner.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=12-425","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"6567b9aec7a101e21b2d3f9dce930189243e1f4e21a6da0ebd60a4ed216056a5","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-12-424","next":"us-md/md.-code-financial-institutions-12-426"},"notice":"GroundRules: Original legal text. Not legal advice."}