§ 12–114
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 12-114 (2026)
Title 12. Miscellaneous Institutions and Activities
Subtitle 1. Check Cashing Services
§ 12–114LinkCopy Citation
(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, if the licensee:
(1)
Notifies the Commissioner in writing of the location of the records; and
(2)
Makes the records available at the licensed location, as agreed by the Commissioner and the licensee, within 7 days after 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.