Section 110.50 Cash Book

Section 110.50  Cash Book

a)         All receipts and disbursements of any amount whatsoever shall

be entered, on the day they occur, in the cash book or equivalent record.

Separate headings shall be provided for payments on principal and interest and

for fees collected from obligors for filing, recording, and releasing security

agreements, financing statement for perfecting a lien on a motor vehicle, or

for amounts received for any type of insurance coverage. In the case of

precomputed loans, payments applied to the note may be shown as a total sum and

need not be itemized between principal and precomputed charges. Additional

charges collected for delinquency shall be itemized or otherwise separately

indicated.

b)         The cash book shall show all fees paid by the licensee for

filing, recording, and releasing security agreements, for financing statements

or for perfecting a lien on a motor vehicle, and the actual date of payment.

c)         The cash book shall be a permanent record of all details of

income and disbursements, including all entries to individual accounts of

borrowers.  A licensee may maintain these files in any medium or format which

accurately reproduces original documents or papers.