2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 6-715 - Books and records


MD Fin Inst Code § 6-715 (2013) What's This?

§6-715.

(a) A credit union shall keep the books and records that the Commissioner requires to determine compliance with this title.

(b) Unless a longer period is expressly required by State or federal law, a credit union shall retain the books and records required under subsection (a) of this section for a period of at least 5 years.

(c) A credit union may retain the books and records required under subsection (a) of this section at any location, provided that the credit union:

(1) Notifies the Commissioner in writing of the location of the books and records; and

(2) Makes the books and records available at the credit union’s principal place of business, as agreed by the Commissioner and the credit union, within 7 days of a written request for examination by the Commissioner.

(d) A credit union shall retain the books and records required under subsection (a) of this section in one of the following ways:

(1) Original form;

(2) An electronic equivalent approved by the Commissioner; or

(3) A microphotographic copy approved by the Commissioner.

Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.