17-2257. Records; examination by commissioner; preservation.
17-2257
17-2257. Records; examination by commissioner; preservation.
(a) Every guarantee corporation shall maintain records of its
transactions, and such records shall be open to examination and
investigation by the administrator. The guarantee corporation shall bear
the expense of such examination and investigation.
(b) The administrator at any time may require any guarantee
corporation to bring such records as the administrator
may direct to the credit union department for examination.
(c) Every guarantee corporation shall preserve its records of
contract transactions for at least five years after making the final
entry in any such record. The preservation of records in photographic
form shall constitute compliance with the requirement of this
subsection.
History: L. 1975, ch. 136, § 16; L. 1981, ch. 103, § 7; July 1.