SECTION .1000 ‑ RETENTION OF RECORDS

 

04 NCAC 06C .1001          PERMANENT RECORD

(a)  Each Credit Union shall retain its records in a manner consistent with reasonable business practices and applicable state and federal laws, rules, and regulations. 

(b)  The Credit Union shall permanently retain the original records of the Credit Union's charter, bylaws, and any amendments to those documents.

(c)  The following records shall be retained permanently in their original form or in any electronic or digital form that permits their retrieval and replication:

(1)           the minutes of meetings of members and of the board of directors;

(2)           audit reports;

(3)           copies of the examination reports of the Credit Union Division;

(4)           rulings and opinions from the Credit Union Division;

(5)           signature cards;

(6)           journal and cash record;

(7)           general ledger;

(8)           loan and shares subsidiary ledgers;

(9)           bank reconciliations; and

(10)         a list of all records destroyed.

(d) Credit Unions shall reference 12 C.F.R. Part 749 Appendix A for retention schedule guide lines.

 

History Note:        Authority G.S. 54‑109.12; 54‑109.17;

Eff. February 1, 1976;

Readopted Eff. April 4, 1978;

Amendment Eff. March 1, 2016.