(a) Accounts established by the licensee to maintain debtor(s) funds must be held in the title of “Budget Planner as Agent for the Benefit of Principal(s) (i.e., Debtor[s]).” The licensee must maintain, at all times, debtor records in such a manner as to make ascertainable the interests of the debtors, i.e., the records must sufficiently identify the deposit balance of each debtor on any given day.

(b) Accounts must be maintained in a branch of a bank, savings bank, savings and loan association, trust company, private banker, national bank, Federal savings bank, or Federal savings and loan association located in this State, regardless of whether the principal office of the foregoing institution is located within or without this State.