AGENCY: Department of Financial Institutions

SERIES: 84661
TITLE: Third-party payment license application files
DATES: 1983-
ARRANGEMENT: Alphabetical by name

DESCRIPTION: These files document the issuance of licenses to financial corporations who, upon proving a net worth of one million dollars,are allowed to issue money orders, traveler's checks, and other forms of third-party payment in Utah. Information in the file assists the agency in annual license renewal. Licensing is required for the protection of purchasers of third-party payments. The files include a copy of the license (name of vendor, date of commencement, date and place of incorporation, signature of commissioner, date signed); application for license (name and address of applicant, incorporation date and date admitted to do business in Utah, signature of applicant, notarized affidavit, notary signature and seal); letter of renewal of license; receipt of annual application fee; annual audited financial statements showing networth of one million dollars; and a copy of continuation certification (date of receipt of renewal request).

RETENTION

Retain for 1 year(s) after expiration of permit or license

DISPOSITION

Destroy.

RETENTION AND DISPOSITION AUTHORIZATION

These records are in Archives' permanent custody.

APPROVED: 09/1989

FORMAT MANAGEMENT

Paper: Retain in Office for 1 year after renewal of license and then destroy.

APPRAISAL

Administrative

PRIMARY DESIGNATION

Public