§ 23-52-112 - Records and inspections. - Arkansas Statutes

23-52-112. Records and inspections.

(a) Each check-casher shall keep and use in its business any books, accounts, and records that the State Board of Collection Agencies may require to carry into effect the provisions of this chapter and the administrative regulations issued hereunder. Provided, such records may be retained on computer or other electronic storage devices.

(b) For the purpose of determining compliance with this chapter, the board, at any reasonable time, may cause an examination to be made at a check-casher's place of business of the records and transactions of such check-casher. Each check-casher shall preserve all relevant records for a period of at least two (2) years after making the last entry on any transaction, and the board shall have free access to such records at the check-casher's place of business at all reasonable times during the check-casher's normal business hours. If the board has probable cause to believe that a person has engaged in an activity which violates the provisions of this chapter, the board may compel the production of such books and records of the person as the board has probable cause to believe are relevant to the alleged violation.