§ 6.2-1943 (Effective July 1, 2026) Records
A. A licensee shall maintain the following records for determining its compliance with this chapter for at least three years:
1. A record of each outstanding money transmission obligation sold;
2. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;
5. Records of each money transmission obligation paid within the three-year period;
6. A list of the last known names and addresses of all of the licensee’s authorized delegates; and
7. Any other records the Commission reasonably requires by regulation.
B. The items specified in subsection A shall be maintained in written or electronic form.
C. Records specified in subsection A may be maintained outside the Commonwealth if they are made accessible to the Commission on seven business days’ written notice.
D. All records maintained by the licensee as required in this section are open to inspection by the Commission pursuant to § 6.2-1926.
E. Each licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business.
History
This law was first created in 2025. The record of its establishment is cataloged in chapter 214 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2025, c. 214.