47-30.2-24. (404) Retention of records by holder

47-30.2-24. (404) Retention of records by holder 1. A holder required to file a report under section 47-30.2-21 shall retain records for ten years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the commissioner. 2. Upon receipt of a notice for an examination or notice of authorization to participate in the voluntary disclosure program under section 47-30.2-55, a holder shall retain, until the conclusion of the examination or any related appeal or litigation, or the conclusion of authorized voluntary disclosure in each instance, all relevant records dating back ten years from the commencement of the examination, plus the applicable dormancy period under section 47-30.2-04, before the date of the administrator's delivery of a notice of an examination to a holder under this chapter. 3. The holder may satisfy the requirement to retain records under this section through an agent. 4. The records must contain: a. The verifiable information required to be included in the report; b. The date, place, and nature of the circumstances that gave rise to the property right; c. The amount or value of the property; d. The last address of the apparent owner, if known to the holder; e. If the holder sells, issues, or provides to others for sale or issue in this state traveler's checks, money orders, or similar instruments, other than third-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue; and f. Records of items that were not reported as unclaimed sufficient to determine whether the holder has complied with this chapter.