All industry members and retailers shall keep and maintain the following records on their premises for a three-year period:

     (1) Records of all items, services, and moneys' worth furnished to and received by a retailer and of all items, services, and moneys' worth provided to a retailer and purchased by a retailer at fair market value; and

     (2) Records of all industry member financial ownership or interests in a retailer and of all retailer financial ownership interests in an industry member.

[2009 c 506 § 8.]