Section 110.10  Record Keeping

a)         Every licensee shall keep the following records at the licensed location in any medium or format that accurately reproduces original documents or papers:

1)         Loan register.

2)         Individual account records, including transaction histories of obligors.

3)         File of all original papers.

4)         Cash book.

5)         Alphabetical record of all co-makers, obligors, or sureties.

6)         Permanent file.

b)         Records for loans made under the Act shall be kept separate or readily identifiable from other types of business conducted in the office.

c)         Electronic data processing, combination forms and special office systems may be used if in accordance with standard accounting procedures and if they contain the information enumerated in subsection (a).

(Source:  Amended at 47 Ill. Reg. 9271, effective June 20, 2023)