7-9-42 - Record requirements.
7-9-42. Record requirements.
(1) A credit union shall maintain all books, records, accounting systems, and proceduresin accordance with rules the commissioner may prescribe or in accordance with Chapter 1.
(2) In prescribing these rules, the commissioner shall consider the size of a credit unionand its ability to comply.
(3) A credit union is not liable for destroying records after the expiration of the recordretention time prescribed by the rules.
(4) A photostatic or photographic reproduction of any credit union records shall beadmissible as evidence of transactions with the credit union.
Enacted by Chapter 16, 1981 General Session