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Can you summarize 36a RCSA 40?
The Banking Law of Connecticut > Retention of Records by Connecticut Banks and Connecticut Credit Unions (Department of Banking)
Short Summary
This document, part of the Connecticut Administrative Code and The Banking Law of Connecticut, provides a retention schedule for various types of records that Connecticut banks and Connecticut credit unions are required to maintain. The document covers administrative/corporate records, cash records, deposit account records, loan records, customer service records, international department records, and trust department records. It specifies the retention periods for each category of records, ranging from permanent retention to a few months or years. The document does not mention any exemptions or penalties. It serves as a guideline for banks and credit unions in Connecticut to ensure compliance with record retention requirements. Additionally, the document allows for the establishment of retention schedules for routine or internal records not listed in the regulations, with the approval of the governing board. The document also provides guidelines for the retention of correspondence and successor forms to tax forms. It permits the retention of records in their original forms or through reproduction by durable means. The document was last amended on January 30, 1996.
Whom does it apply to?
Connecticut banks and Connecticut credit unions
What does it govern?
Retention of records by Connecticut banks and Connecticut credit unions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Connecticut