                                 CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) RECORDS (§ 6.2-1943)

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;

   3. Bank statements and bank reconciliation records;

   4. Records of outstanding money transmission obligations;

   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&#8217;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&#8217;
written notice.

D. All records maintained by the licensee as required in this section are open
to inspection by the Commission pursuant to &#xA7; 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: 2025, c. 214.