Section 110.10 Record Keeping

Section 110.10  Record

Keeping

a)         Every licensee shall keep the following records at the

licensed location in any medium or format that accurately reproduces original

documents or papers:

1)         Loan register.

2)         Individual account records, including transaction histories of

obligors.

3)         File of all original papers.

4)         Cash book.

5)         Alphabetical record of all co-makers, obligors, or sureties.

6)         Permanent file.

b)         Records for loans made under the Act shall be kept separate or

readily identifiable from other types of business conducted in the office.

c)         Electronic data processing, combination forms and special

office systems may be used if in accordance with standard accounting procedures

and if they contain the information enumerated in subsection (a).