Are there any state laws or regulations that require the original HE Note be kept in a fireproof vault? Presently, we keep the original filed in a vault and a copy resides in the file. We would like to keep the original in the file and keep a copy in a regular file cabinet. Someone here seems to recall that the Note must be kept in a fireproof vault with a copy in the file. I'm looking for guidance. Thank you.

The purpose of retaining the orginal note in a fireproof vault is to protect the lender. Although state laws will normally allow a lender to pursue a borrower for payment using a copy of the original (if made and maintained in the ordinary course of business), it's clear that the original note is the preferred evidence of the debt.

I recommend keeping the original in the vault.