§ 12-922. Retention of records
West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2014
Effective: October 1, 2014
MD Code, Financial Institutions, § 12-922
§ 12-922. Retention of records
(a) To enable the Commissioner to determine compliance with this subtitle, a licensee shall make and preserve the following books, accounts, and records for a period of at least 7 years:
(b) A licensee may retain the books, accounts, and records required under this section at any location, provided that the licensee:
(c) A licensee shall retain the books, accounts, and records required under this section in:
(d) If the Commissioner finds that the books, accounts, and records of the licensee are insufficient to determine compliance with this subtitle, the Commissioner may require the licensee to have a certified public accountant audit the licensee, at the licensee's expense, for any period of time that the Commissioner considers necessary.
(e)(1) A licensee shall keep all books, accounts, and records relating to a consumer confidential, and may not disclose any information about a consumer except to a duly authorized government official, the consumer, or the consumer's representative.
(f) The requirements of this section also apply to books, accounts, and records in the possession of a subsidiary, affiliate, or other person that relate to the operation of and services provided by the licensee's debt management services business.
Credits
Added by Acts 2003, c. 374, § 1, eff. Oct. 1, 2003; Acts 2003, c. 375, § 1, eff. Oct. 1, 2003. Amended by Acts 2008, c. 605, § 1, eff. June 1, 2008; Acts 2008, c. 606, § 1, eff. June 1, 2008; Acts 2014, c. 104, § 2, eff. Oct. 1, 2014.
MD Code, Financial Institutions, § 12-922, MD FIN INST § 12-922
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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