Requirements of licensees; maintenance of records

(a) Each licensee shall: (1) Conspicuously post a copy of its license in each location where the licensee engages in installment lending; (2) Submit to the Nationwide Multistate Licensing System and Registry timely reports of condition, which shall be in such form and shall contain such information as the department may require; (3) Clearly label all advertisements and any other documents required by rules and regulations of the department with its unique identifier; (4) Make, keep, and use in its business such books, accounts, and records as the department may require; and (5) Make available to the department, upon request, any books, accounts, records, files, documents, evidence, or other information relating to the business of making installment loans. (b) Each licensee shall preserve any books, accounts, and records required to be made, kept, or used pursuant to this Code section or rules and regulations of the department for five years or such greater period of time as prescribed by rules and regulations of the department to the licensee. (c) A licensee may maintain any books, accounts, and records required to be made, kept, or used pursuant to this Code section: (1) In photographic, electronic, or other similar form; and (2) At a location outside of this state so long as such records are transmitted to a location designated by the department within ten days of the date of a written request by the department. Added by 2020 Ga. Laws 409,§ 2, eff. 6/30/2020.