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Can you summarize NERS 8-170?
BANKS AND BANKING > Records and files; time required to be kept; destroy, when.
Short Summary
This legal provision governs the preservation and retention of records and files by banks in Nebraska. Banks are generally not required to preserve or keep their records or files for longer than six years after the first day of January of the year following the making or filing of such records or files. However, there are exceptions to this rule. Ledger sheets showing unpaid balances in favor of depositors must not be destroyed unless the bank has remitted such unpaid balances to the State Treasurer in accordance with the Uniform Disposition of Unclaimed Property Act. Banks are also required to retain a record of every such remittance for ten years. Additionally, corporate records that relate to the corporation or the corporate existence of the bank must not be destroyed. All records or files must be readable or legible. There are no specific penalties mentioned in this provision.
Whom does it apply to?
Banks
What does it govern?
Preservation and retention of records and files by banks
What are exemptions?
Ledger sheets showing unpaid balances in favor of depositors of banks shall not be destroyed unless the bank has remitted such unpaid balances to the State Treasurer in accordance with the Uniform Disposition of Unclaimed Property Act. Corporate records that relate to the corporation or the corporate existence of the bank shall not be destroyed.
What are the Penalties?
No penalties mentioned.
Jurisdiction
Nebraska