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#1604427 - 09/16/11 12:57 PM Collateral Receipt Log and Numbering
Piano Man Offline
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Piano Man
Joined: Mar 2004
Posts: 442
Down South
Is there any requirement to number and log our negotiable collateral receipts? We would like to go to a new form because our current forms require a typewriter. The new form has a place for a "Doc No." but the loan software does not assign it a number. I just don't want to stop keeping the log of receipt numbers when I am required to keep it.
Love so amazing, so divine; Demands my soul, my life, my all.

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Lending Compliance
#1604430 - 09/16/11 01:02 PM Re: Collateral Receipt Log and Numbering Piano Man
osucpa Offline
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Joined: May 2011
Posts: 1,402
There is no requirement.

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#1604618 - 09/16/11 03:27 PM Re: Collateral Receipt Log and Numbering osucpa
Rocky P Online
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Joined: Jun 2003
Posts: 7,423
If you are subject to SOX, you may wish to check with whoever in the bank monitors it. Although not a requirement, it may be an internal control consideration.
Integrity. With it, nothing else matters. Without it, nothing else matters.

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