Md. Code, Financial Institutions § 12-114
This is the official text of Md. Code, Financial Institutions § 12-114, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§12–114.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.