TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER I: DEPARTMENT OF FINANCIAL INSTITUTIONS
PART 160 SALES FINANCE AGENCY ACT
SECTION 160.10 MINIMUM REQUIREMENTS FOR OFFICE RECORDS


 

Section 160.10  Minimum Requirements for Office Records

 

a)         Every licensee shall keep the following records or their equivalent:

 

1)         Transaction register.

 

2)         Individual accounts cards of all obligors.

 

3)         File of all original papers or, where prior written approval has been obtained from the Department, copies which have been reproduced in any medium or format which accurately reproduces the original papers.

 

4)         Cash Book.

 

5)         Alphabetical record of all buyers, co-purchasers, and obligors on all obligations.

 

6)         Permanent file.

 

b)         Records pertaining to the conduct of business regulated by the Sales Finance Agency Act shall be kept at the licensed office, separate or readily identifiable from other types of business conducted in the office of the licensee.

 

(Source:  Amended at 22 Ill. Reg. 13699, effective July 14, 1998)