§ 19-14.4-3 - Rules and regulations. - Rhode Island Statutes

SECTION 19-14.4-3

   § 19-14.4-3  Rules and regulations. –(a) The director or the director's designee is authorized, directed andempowered to promulgate regulations that provide for the safety and security ofcustomers of the licensee, and/or its employees, from robbery or other criminalactivities to include, but not be limited to, bulletproof glass and steelpartitions.

   (b) The rules and regulations, in addition to any otherprovisions as the director or the director's designee may require, must providethat licensees maintain:

   (1) Continuously, for each licensed premises, liquid assetsof at least ten thousand dollars ($10,000);

   (2) A cash sheet which must be prepared daily for each day'sbusiness reflecting all transactions for that day;

   (3) A money order register recording the date issued, moneyorder number, amount and date paid. In lieu of the money order register, a copyof the money order may be kept when carbonized type money orders are used;

   (4) Insurance issued by an insurance company or indemnitycompany, authorized to do business under the laws of this state, which shallinsure the applicant against loss by theft, burglary, robbery or forgery inprincipal sum, as determined by the director or the director's designee, whichshall in no event be less than ten thousand dollars ($10,000) nor more than onehundred thousand dollars ($100,000). The required amounts shall bear arelationship to the liquid assets on hand at the licensed location; and

   (5) An adequate written policy and affirmative program toinsure compliance with state and federal money laundering statutes.