17-2257.   Records; examination by commissioner; preservation.(a) Every guarantee corporation shall maintain records of itstransactions, and such records shall be open to examination andinvestigation by the administrator. The guarantee corporation shall bearthe expense of such examination and investigation.

      (b)   The administrator at any time may require any guaranteecorporation to bring such records as the administratormay direct to the credit union department for examination.

      (c)   Every guarantee corporation shall preserve its records ofcontract transactions for at least five years after making the finalentry in any such record. The preservation of records in photographicform shall constitute compliance with the requirement of thissubsection.

      History:   L. 1975, ch. 136, § 16; L. 1981, ch. 103, § 7; July 1.