04 NCAC 03J .0302          RECORD AND BOOKKEEPING REQUIREMENTS

(a)  A registrant shall maintain the following records with respect to each application for a refund anticipation loan in this State:

(1)           the name of applicant;

(2)           the social security number of applicant;

(3)           the date of application;

(4)           disposition of application, e.g., whether loan was funded, denied, etc.;

(5)           the gross amount of the refund anticipation loan;

(6)           the amount of the creditor fee;

(7)           the amount of the facilitator loan fee, if any;

(8)           the amount of the electronic filing fee;

(9)           the amount of refund anticipation loan proceeds disbursed by the registrant to the debtor;

(10)         the date on which refund anticipation loan proceeds were disbursed by the registrant to the debtor; and

(11)         the identity of the individual originating the application for the refund anticipation loan.

These records shall be kept in an office or offices of the registrant in this State. This Rule shall not be interpreted to require a registrant to maintain one central office where all records required are located.

(b)  Evidence of all disbursements delivered by the registrant to each debtor in payment of the proceeds of the refund anticipation loan shall be available upon request by the Commissioner.

(c)  All records required to be kept pursuant to Paragraph (a) of this Rule shall be kept for a period of three years.

History Note:        Authority G.S. 53-253;

Eff. September 1, 1993;

Readopted Eff. August 1, 2018.