Title 5 Banking
1500 Credit Card Institutions
5 Del.C . §1542
Formerly Regulation No.: 5.1542.0003
Effective Date: December 8, 1995
This regulation provides for the minimum books and records requirements for Credit Card Institutions.
§1542 of Title 5 of the Delaware Code provides that the State Bank Commissioner may issue regulations prescribing the minimum books and records required to be maintained by and at the institution's Delaware office that accepts deposits.
All records must be easily accessible for supervisory examination purposes. In addition, records, with the exception of those that are considered to be of a permanent nature, may be copied (i.e. microfilmed, photographed) at the institution's discretion and such copy retained for the designated period of time.
Corporate Records
Annual Reports
Charter, certificate of incorporation, bylaws, amendments, minutes of meetings of directors, executive and other committees
FDIC Assessment base records
Records of loans to executive officers, directors and principal shareholders
Records of outside business interests of bank's executive officers, directors and principal shareholders and their transactions with the bank
Capital
Capital Stock Certificates, records and stubs
Capital Stock Ledger
Capital Stock Transfer Ledger
Dividend Check Register
Dividend Checks paid
Proxies
Accounting and Auditing
Accrual and Bond Amortization Records
Audit Reports - External & Internal
Bank Reports of Condition and Income
Bank Franchise Tax Returns
Bank Examiner Supervision Reports
Budget Worksheets
Charged-off asset records
Daily Reserve Computation
Difference Record
Reconcilements of bank asset and liability accounts, i.e., due to and due from, loans, etc.
General Ledger
Daily Statement of Condition
General ledger and any subsidiary ledgers
Transactions journals, general ledger sheets/cards and general ledger tickets - debits and credits
Insurance
Banker's Blanket Bond
Records of Policies in force
Insurance schedules, records of premium payments and recoveries
Investments
Securities ledger
Brokers' Confirmations and Invoices
Brokers' Statements
Safekeeping Receipts
Securities Buy and Sell orders
Loans
Customer applications
Customer collateral and register, if any
Correspondence: customer, dealer and general
Credit files
Trial Balance - Account number, name, balance, cycles past due (if applicable), etc.
Delinquency Report - account number, name, balance cycles past due, etc.
Cardholder agreements and merchants agreements
Statements - Cardholders and Merchants
Transaction Journals
Overdraft loan agreement, where applicable
Records of extensions of credit over $5,000
Collection letters; incoming and outgoing
Compliance
Evidence of compliance with the following federal regulations:
Truth-in-Lending Act
Fair Credit Reporting Act
Fair Debt Collection Practices Act
Bank Secrecy Act
Taxes
All tax records
Due from Banks
Advice from correspondents
Bank statements
Drafts and Draft Register
Reconcilement letters
Transit letters
Certificates of Deposits and Other Time Deposits
Certificate Register
Signature Cards
Taxpayer Information
Trial Balance
Withdrawal request
Registered Mail
Registered mail records - incoming, outgoing, air & sea
Return receipt cards