Iowa Code 533C.606 – Records
Current as of: 2024 | Check for updates
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Terms Used In Iowa Code 533C.606
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Rule: includes "regulation". See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
533C.606 Records.
1. A licensee shall maintain records in any form, for the purpose of determining
compliance with this chapter, for at least three years, including all of the following:
a. A record of each outstanding money transmission obligation sold.
b. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts.
c. Bank statements and bank reconciliation records.
d. Records or outstanding money transmission obligations.
e. Records of each outstanding money transmission obligation paid within the three-year period.
f. A list of the last known names and addresses of all of the licensee’s authorized delegates.
g. Any other records the superintendent reasonably requires by rule.
2. Records specified in this section may be maintained outside the state if they are made accessible to the superintendent on seven business days’ notice that is sent by the superintendent in a record.
3. All records maintained by the licensee as required in this section are open to inspection by the superintendent pursuant to § 533C.203.
2023 Acts, ch 83, §26
NEW section
1. A licensee shall maintain records in any form, for the purpose of determining
compliance with this chapter, for at least three years, including all of the following:
a. A record of each outstanding money transmission obligation sold.
b. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts.
c. Bank statements and bank reconciliation records.
d. Records or outstanding money transmission obligations.
e. Records of each outstanding money transmission obligation paid within the three-year period.
f. A list of the last known names and addresses of all of the licensee’s authorized delegates.
g. Any other records the superintendent reasonably requires by rule.
2. Records specified in this section may be maintained outside the state if they are made accessible to the superintendent on seven business days’ notice that is sent by the superintendent in a record.
3. All records maintained by the licensee as required in this section are open to inspection by the superintendent pursuant to § 533C.203.
2023 Acts, ch 83, §26
NEW section