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The Florida Senate

2004 Florida Statutes

Section 560.211, Florida Statutes 2004

560.211  Records.--

(1)  Each registrant must make, keep, and preserve the following books, accounts, and other records for a period of 3 years:

(a)  A daily record or records of payment instruments sold and funds transmitted.

(b)  A general ledger containing all asset, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly.

(c)  Settlement sheets received from authorized vendors.

(d)  Financial institution statements and reconciliation records.

(e)  Records of outstanding payment instruments and funds transmitted.

(f)  Records of each payment instrument paid and funds transmission delivered within the 3-year period.

(g)  A list of the names and addresses of all of the registrant's authorized vendors, as well as copies of each authorized vendor contract.

(2)  The records required to be maintained by the code may be maintained by the registrant at any location, provided that the registrant notifies the office in writing of the location of the records in its application or otherwise. The registrant shall make such records available to the office for examination and investigation in this state, as permitted by the code, within 7 days after receipt of a written request.

(3)  Registrants and authorized vendors need not preserve or retain any of the records required by this section or copies thereof for a period longer than 3 years unless a longer period is expressly required by the laws of this state or federal law. A registrant or authorized vendor may destroy any of its records or copies thereof after the expiration of the retention period required by this section.

(4)  The original of any record of a registrant or authorized vendor includes the data or other information comprising a record stored or transmitted in or by means of any electronic, computerized, mechanized, or other information storage or retrieval or transmission system or device which can upon request generate, regenerate, or transmit the precise data or other information comprising the record; and an original also includes the visible data or other information so generated, regenerated, or transmitted if it is legible or can be made legible by enlargement or other process.

(5)  Any person who willfully fails to comply with this section commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084

History.--s. 2, ch. 94-238; s. 2, ch. 94-354; s. 11, ch. 2000-360; s. 717, ch. 2003-261.