Maryland Statutes
Subtitle 1 - Check Cashing Services
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, provided that the licensee:
        (1)    Notifies the Commissioner in writing of the location of the records; and
        (2)    Makes the records available at a place of business for which a license has been issued or at the licensee’s principal place of business, as agreed by the Commissioner and the licensee, within 7 days of 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:
        (1)    Original form;
        (2)    An electronic equivalent approved by the Commissioner; or
        (3)    A microphotographic copy approved by the Commissioner.