(1) Each licensee shall keep the following records, accounts, and books for a minimum of 24 months from the date the loan agreement was signed by the borrower, or longer if required by federal law:

(a) all loan documents signed by or given to the borrower;

(b) all loan application documents;

(c) all records of payments made by the borrower, including the date and amount of the payment;

(d) account files detailing the application of borrower payments to interest, principal, and other fees;

(e) account files recording the accrual of interest updated every 30 days;

(f) copies of loan renewal agreements and disclosures;

(g) copies of paid loan agreements;

(h) invoices for repossession, towing, and storage of titled personal property;

(i) an accurate statement or photograph that documents the condition of the titled personal property after repossession but before sale; and

(j) the bill of sale of repossessed titled personal property.