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#96879 - 07/14/03 06:54 PM Record Retention
Miss Dixie Offline
Member
Miss Dixie
Joined: May 2003
Posts: 62
One of our Texas branches has asked how long they should retain the form used to reactivate a dormant account. I couldn't find anything in the retention guide that I thought remotely resembled that category of document. Did I miss the listing? Alternately, if it's simply not there, what should be my "default" policy for documents that aren't mentioned in the state statutes? Thanks for your help!
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"The pen is mightier than the sword, and considerably easier to write with." Marty Feldman

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Operations Compliance
#96880 - 07/14/03 10:45 PM Re: Record Retention
Tisa Offline
Platinum Poster
Tisa
Joined: Jun 2003
Posts: 938
Do you know the way to ...
Well, I can only tell you what California requires. Probably won't help much with your Texas accounts, though....

In the California Unclaimed Property regs, all documentation for escheat (meaning also records for why we didn't escheat an account - like the dormant account re-activation form) must be retained for 7 years after the report's due-date.

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Just a lowly 1st Year Law Student ("1L"), so don't take anything I say seriously!

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#96881 - 07/15/03 02:48 PM Re: Record Retention
Anonymous
Unregistered

Thanks--it makes sense to deal with that form like anything else related to escheat. I appreciate your help!

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#96882 - 07/15/03 02:50 PM Re: Record Retention
Miss Dixie Offline
Member
Miss Dixie
Joined: May 2003
Posts: 62
Oops--not logged in. Thank you!
_________________________
"The pen is mightier than the sword, and considerably easier to write with." Marty Feldman

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