Section 12-114 - Books and records - Retention(a) A licensee shall keep the books and records that the Commissioner requires to determine compliance with this subtitle.(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.(c) A licensee may retain the records required under this subtitle at any location, if the licensee: (1) Notifies the Commissioner in writing of the location of the records; and(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.(d) In addition to any other books and records that the Commissioner may require, a licensee shall retain: (1) A chronological register of all payment instruments cashed by the licensee showing: (i) The name of the customer;(ii) The transaction date;(iii) The type and amount of payment instrument;(iv) The amount of fee charged; and(v) A complete description of the identification presented by the customer; and(2) The licensee's bank statements and canceled checks.(e) A licensee shall retain the records required under this section in one of the following ways:(2) An electronic equivalent approved by the Commissioner; or(3) A microphotographic copy approved by the Commissioner.Amended by 2023 Md. Laws, Ch. 567, Sec. 1, eff. 7/1/2023.