R 257.190 Records.

Rule 10. (1) A broker shall maintain for a period of not less than 5 years from their making, copies of all purchase or lease agreements, bills of sale, and other papers and documents relating to transactions negotiated and fees charged by the broker. (2) Upon the request of the administrator, a broker shall submit to the administrator copies of all records required by the act or these rules. The administrator shall specify the format in which the records shall be submitted, which may be electronic. This subrule shall only apply to records of vehicles sold at retail by a licensed dealer where a broker is involved in the transaction.