Section 16-210. TRANSACTION REGISTER

 

210.1Each licensee shall keep and maintain in his office or place of business a register, as required by § 4 of the 1913 Act, and each licensee shall enter in the register the data required by the Act.

 

210.2The register shall be maintained from day to day as each transaction is entered into between the license and the borrower.

 

210.3The register shall be a book of original entry.

 

210.4In addition, every licensee shall enter the following information in the transaction register with respect to each loan:

 

(a)The name and address of every person from whom any fee or commission, by whatever name designated, was paid or agreed to be paid by the licensee in connection with such loan, and the amount of such fee, or commission so paid or agreed to be paid;

 

(b)A description of any property accepted as collateral security for the loan and in case such property be a motor vehicle, the manufacturers' name, and the year, model and motor number thereof;

 

(c)The perils insured against, and the amount and conditions of the policy of insurance against each such peril, the premium on which is included in the amount of the loan;

 

(d)The names and addresses of the companies issuing such insurance;

 

(e)The names of the brokers or agents by whom such insurance was written;

 

(f)The premiums charged on such insurance; and

 

(g)The term of the loan.

 

210.5The register shall be kept numerically by numbers of loans in the order made and each entry shall have a proper column separating each item required to be shown under this chapter.

 

210.6The same number assigned under § 210.5 shall appear on the borrower's payment or receipt book and shall also appear in all other records pertaining to the loan required to be kept by the licensee under this chapter.