CFR > Title 12 - Banks and Banking > CHAPTER XVII—OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT > SUBCHAPTER C—SAFETY AND SOUNDNESS (parts 1710 to 1777) > PART 1732—RECORD RETENTION > SUBPART B—Record Retention Program (§1732.5 to §1732.8-1732.9) > 1732.5—Establishment and evaluation of record retention program.

1732.5—Establishment and evaluation of record retention program.

(a) Establishment. An Enterprise shall establish and maintain a written record retention program and provide a copy of such program to the OFHEO Examiner-in-Charge of the Enterprise within 120 days of the effective date of this part, and annually thereafter, and whenever a significant revision to the program has been made.
(b) Evaluation. Management of the Enterprise shall evaluate in writing the adequacy and effectiveness of the record retention program at least every three years and provide a copy of the evaluation to the board of directors and the OFHEO Examiner-in-Charge of the Enterprise.