Section 13-06-01-10 - Required recordsEvery licensee shall keep the following records:
1.Transaction register.a. The transaction register must contain the original entry and be a permanent record, and must show for every transaction the transaction number, date of transaction, maturity date, date of rollover and new maturity date if any, amount of transaction, name of customer, and the amount of fees expressed in dollar amount.b. The transaction register must be kept numerically by transaction number in the order made and must have headings for each of the items required.2.An individual account record. An individual account record must be kept for each customer. Such account record must show the name and address of the customer, transaction number, date of transaction, maturity date, and fee expressed in dollar amount.3.File of all original papers. A separate file shall be maintained for each customer and shall contain the written agreement and acknowledged copy of the disclosure statement of transaction. Evidence of disclosure must be retained for six years from the date of the transaction. When prior written approval has been obtained from the commissioner, a licensee may maintain these files in any medium or format that accurately reproduces original documents or papers.4.Check copies. Copies of checks received in the deferred presentment service transaction.5.Cash book. All receipts and disbursements, of any amount whatsoever, must be entered in the cash book or equivalent record on the day they occur. Separate headings must be provided for payments and fees collected from customers. The cash book must be a record of all details of income and disbursements, including all entries to individual accounts of customers.6.Alphabetical record of customers. The alphabetical record must show the transaction number and the name of each customer who is currently indebted to the licensee, with sufficient information to locate the account record.7.Permanent file. Each licensee shall maintain a permanent file which includes the following:a. A copy of all correspondence sent to or received from the department within the past twenty-four months.b. A copy of the last two examination reports and any related correspondence.8.Check record. A record must be retained of each check presented for negotiation, including checks deposited, cashed, and checks presented directly to the customer's issuing bank.9.Returned checks. A record must be retained of all checks returned for nonsufficient funds, account closed, or stop payment.10.Rescinded transactions. A record must be retained of all rescinded transactions by customer as a separate record.Erasures may not be made in the payment and charge sections of any account records or written agreements. In case of error, a line must be drawn in ink through the improper entry and the correct entry made on the following line. The entries on the record must correspond with the receipts given the customer.
Records of transactions made under North Dakota Century Code chapter 13-08 must be kept separate or readily identifiable from other types of business conducted in the office.
Electronic data processing, combination forms, and special office systems may be used if in accordance with generally accepted accounting practices and must contain the information required by this section.
N.D. Admin Code 13-06-01-10
Effective July 1, 2001; amended effective April 1, 2013.General Authority: NDCC 13-08-10
Law Implemented: NDCC 13-08-11