Section 1800.360  Terminal Operator Record Retention

a)         Each licensed terminal operator shall maintain, in a place secure from theft, loss or destruction, adequate records of business operations that shall be made available to the Board upon request. These records shall be held for at least as long as prescribed by the Records Retention Schedule periodically published by the Administrator, or longer if otherwise prescribed by general accounting and auditing procedures, litigation needs, or State or federal law. These records shall be maintained in a manner accessible to the Board or in a digital format prescribed by the Administrator.

b)         Each licensed terminal operator, in such manner and for such time period as the Administrator may approve or require, shall keep accurate, complete and legible records of any books, records or documents pertaining to, prepared in, or maintained by a licensed terminal operator, regardless of physical form, characteristics, or subject matter, including, but not limited to, all forms, reports, accounting records, ledgers, subsidiary records, computer maintained and generated data, internal audit records, copies of all promotional material, and advertising, correspondence and personnel records.

c)         All records shall be organized and indexed in a manner that provides prompt accessibility by agents of the Board upon request as soon as reasonably possible.

d)         No original book, record or document required to be maintained by this Section may be destroyed by a licensee prior to the scheduled retention date without prior approval of the Administrator.

e)         The Administrator shall publish and periodically update the Retention Schedule.

(Source:  Added at 45 Ill. Reg. 5375, effective April 12, 2021)