Compilation of Rules and Regulations of the State of Georgia › Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE › Chapter 80-12 - MERCHANT ACQUIRER LIMITED PURPOSE BANKS › Subject 80-12-5 - BOOKS AND RECORDS › Rule 80-12-5-.05 - Minimum Requirements for Books and Records

Current through Rules and Regulations filed through June 27, 2024
An MALPB must maintain the following books and records:
(a) All records required to be maintained by federal, state or, if applicable, international law, rules, or regulations, including, but not limited to, the rules enacted by the Department to carry out the provisions of the Act;
(b) All records required to be maintained by the applicable payment card networks;
(c) All contracts related to the MALPB's provision of merchant acquiring activities, including, but not limited to, contracts with payment card networks, merchants, eligible organizations, and support organizations;
(d) All records related to compliance with payment card network data security standards, such as Payment Card Industry Data Security Standard ("PCI DSS"), including, but not limited to, records indicating data security deficiencies by the MALPB, eligible organizations, support organizations, and merchants;
(e) All records related to the clearing and settlement of transactions through the payment card networks including, but not limited to, remittances to payment card networks;
(f) All reports or other compilation of data provided to payment card networks and/or merchants related to transactions;
(g) All records related to chargebacks, and business format change;
(h) Daily account of merchant funds broken down by merchant;
(i) Copies of all trust or custodial account agreements;
(j) Records of all complaints and records of disposition;
(k) Copies of examination reports prepared by any agency, division, or instrumentality of the United States, the State of Georgia or any other state, or any foreign country which report relates to the merchant acquiring activities of the MALPB;
(l) Copies of reports required to be prepared or submitted by the MALPB to any agency, division, or instrumentality of the United States, the State of Georgia or any other state, or any foreign country which report relates to the merchant acquiring activities of the MALPB;
(m) Copies of documents related to any adverse action taken by any agency, division, or instrumentality of the United States, the State of Georgia or any other state, or any foreign country, including, but not limited to, a revocation or suspension of a license or charter or the imposition of a fine or civil monetary penalties;
(n) Copies of all payroll records, including, but not limited to, federal and state withholding tax forms such as W-2s filed with the Internal Revenue Service by the MALPB on behalf of individuals employed by the MALPB;
(o) Employee files for all employees which shall include a Georgia Crime Information Center criminal background check and National Crime Information Center background check;
(p) Subject to the limitations in O.C.G.A. §
									7-9-12, a deposit record which contains a continuing itemized record of all activity in the deposit account;
(q) An income and expense register and all of the supporting documentation related to income and expenses;
(r) A daily statement for each business day properly supported by a general ledger showing daily activity to each asset, liability, and capital account;
(s) Minutes from all meetings of the MALPB's Board of Directors and the committees of the Board of Directors;
(t) A stockholder or shareholder list;
(u) An investment register and investment safekeeping report; and
(v) Information on transactions with holding companies, affiliates, and subsidiaries with respect to the terms and circumstances of such transactions and the basis of fees or other charges in order to determine compliance with Rules  80-12-9-.01  and  80-12-9-.02.
O.C.G.A. §§
										7-9-3, 7-9-13.