R331-10-3. Retention of Records

  (1) CORPORATE AND LEGAL

TABLE 1

    Regulation S (domestic and international funds

      transfer 5

    Annual Disclosures Statements/Annual Reports 2

    Minute books of directors, executive committee

      an other records reflecting corporate governance

      documentation, (e.g., minutes, articles, bylaws,

      stock records) 10

    Superceded policies and procedures 2

    Business licenses 1

    Service agreements with vendors 2

    Litigation documents (after resolution) 2

    Affidavits 2

    Attachments, garnishments 6

  (2) DEPOSITORY PRODUCTS

TABLE 2

    Records of checks, drafts and other instruments

      presented for payment or deposit 6

    Deposit records showing relationship of insurance

      claimants to insurance funds 1

    Deposit records disclosing a relationship which

      might provide the basis for additional insurance 1

    Records evidencing compliance with Truth in Savings

      Act 2

    Records of purchases and purchasers of bank checks,

      drafts, cashier's checks, money orders, and

      traveler's checks 5

    Tax identification numbers of deposit/share/

      transaction accounts 5

    Deposit account trial balance records 5

    Each check, deposit, money order issued or payable

      by bank in excess of $100 5

    Records of debits to customers' account in excess

      of $100 5

    Records of purchaser of certificate of deposit 5

    Records of tax identification number of any person

      presenting certificate of deposit for payment 5

    Deposit slips and credit tickets in excess of $100 5

    Records of receipts of currency in excess of $10,000

      received from persons outside United States 5

    Cash letters 1

    Account documentation, (e.g., signature card,

      resolutions, power of attorney, guardianship) 6

    Stop payment orders (after release) 1

  (3) FIDUCIARY

TABLE 3

    Safe deposit documentation, (e.g., access records,

      contracts) 5

    Records relating to municipal securities dealing:

      copies of filings to any associated person

      following termination of association 3

    Record of all brokers/dealers selected by bank to

      effect transactions and amount of commission

      paid or allocated each year 3

    Tax identification number of customers having

      securities 5

    Records of securities authority from customer 5

    Records of amounts expended and adjustments made

      to property acquired and held for investment

      or to verify exercise of qualified stock option,

      debts written off, amount of loans outstanding

      with regard to reserves for losses on bad debts

      of financial institutions for last five taxable

      years 6

    Fiduciary authority documentation, (e.g., trust

      agreements, court orders, powers of attorney,

      directives, authorizations) 6

    Fiduciary account documentation, (e.g., cash and

      asset records, tax returns) 6

    Fiduciary management committee meeting records 5

    Escrow records (after closing) 6

    Safekeeping records and receipts 2

    Fiduciary account documentation, (e.g., chronological

      logs of itemized daily records, account records

      for each customer, order ticket of each buy/sell,

      record of all brokers used 3

  (4) LENDING/LEASING

TABLE 4

    Lending and leasing documents after closed, (e.g.,

      credit application, appraisal, credit report,

      signatory) 6

    Card applications, documentation from date of

      application 2

    Open or closed-end credit document files excluding

      card application documentation 6

  (5) REGULATORY

TABLE 5

    Credit record of transfers of credit more than

      $10,000 to outside the United States 5

    Credit record of transfers of funds more than

      $10,000 to outside the United States 5

    Checks or records of drafts in excess of $10,000

      drawn on foreign banks 5

    Checks, drafts in excess of $10,000 from bank,

      broker or exchange dealer outside United

      States 5

    Utah Bureau of Criminal Identification report or

      background check (after termination) 2

  (6) FINANCIAL

TABLE 6

    Escheatment documentation (abandoned deposit

      accounts, unpaid cashier's checks, unpaid

      expense checks) 7

    Internal audit reports 5

    Investment confirmations, statements, buy and

      sell orders 6

    Financial records, (e.g., journals, ledgers,

      statements, source documents) 7

    Reconcilements, (e.g., General ledger account and

      supporting documentation) 2

      Notes on contracts payable documentation (after

      closing) 2