# Financial Institutions (GFI)

## Title 12. Miscellaneous Institutions and Activities

### Subtitle 1. Check Cashing Services

#### Section 12-114

(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.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)