Maintenance of records.

Each licensee, shall make, keep and preserve the following books, accounts and other records for a period of 3 years: A record of each payment instrument sold; A general ledger containing all assets, liability, capital, income and expense accounts, which general ledger shall be posted at least monthly; Settlement sheets received from authorized delegates; Bank statements and bank reconciliation records; Records of outstanding payment instruments; Records of each payment instrument paid within the 3 year period; A list of the names and addresses of all of the licensee’s authorized delegates; and Records it is required to maintain pursuant to 31 C.F.R. Part 103. Maintenance of such documents as are required by this section in a photographic, electronic, or other similar form shall constitute compliance with this section. Records may be maintained at a location other than within the District of Columbia so long as they are made accessible to the Superintendent [Commissioner] within 7 days of written notice by the Superintendent [Commissioner].