§ 175. Books and records. 1. Every private banker shall keep separate and complete books of account in which shall be promptly entered the details of all business transacted by him as a private banker including statements in detail of the liabilities incurred by him as a private banker and of the securities or property in which funds held by him as a private banker have been invested.

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2. Every private banker shall conform his or her methods of keeping his or her books and records to such orders in respect thereto as shall have been made and promulgated by the superintendent pursuant to article two of this chapter. Any private banker who refuses or neglects to obey any such order shall be subject to a penalty of an amount as determined pursuant to section forty-four of this chapter for each day that such refusal or neglect continues.

3. Every private banker shall preserve all his records of final entry, including cards used under the card system and deposit tickets, for a period of at least six years from the date of making the same or from the date of the last entry thereon; provided, however, that preservation of photographic reproduction thereof or records in photographic form shall constitute compliance with the requirements of this section.