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#2240911 - 08/11/20 09:02 PM Record Retention for Board Meeting Information
Comply Central Offline
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Joined: Aug 2018
Posts: 69
How long are we required to retain the Board Meeting Information Packets? I have read where the minutes themselves must be kept permanently, but could not find any guidance on the Board Books. Our packets are done electronically now, but we have so many from the past that are printed copies.

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#2240923 - 08/12/20 01:07 PM Re: Record Retention for Board Meeting Information Comply Central
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,240
Galveston, TX
Have you looked at your regulator's guidance and State law?

For example, from the OCC Director's Handbook:

Minutes should record the attendance of each director, other attendees, and directors’ votes or abstentions. The record of board meetings and activities should include all materials distributed to the board for informational, oversight, or monitoring purposes.
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#2240941 - 08/12/20 03:50 PM Re: Record Retention for Board Meeting Information Comply Central
P*Q Offline

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P*Q
Joined: May 2001
Posts: 8,458
Somewhere
Our state banking association issues (for purchase) a records retention book that many banks in my state purchase and go by. Contains federal and state timeframes. Check with yours to see if the offer such a thing. Cheap money for a comprehensive guide.

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#2240946 - 08/12/20 04:37 PM Re: Record Retention for Board Meeting Information Comply Central
HappyGilmore Offline
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Pulling people out of the ditc...
we have our board meeting minutes back to the creation of the bank in the late 1800s...so i'm probably not a good person to ask crazy

our president is a huge history buff and frequently will quote something of interest he found when reviewing the minutes, he has read them up through the late 1920s last I heard, and is planning on reading all up to when he started attending meetings
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#2240964 - 08/12/20 07:06 PM Re: Record Retention for Board Meeting Information Comply Central
Comply Central Offline
Member
Joined: Aug 2018
Posts: 69
Thank you all for your responses. We have I'd say, twenty plus years of printed copies. Someone was just hoping to do some cleaning out if possible. I feel like we should image the packets, but realize that would be a big project.

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#2240976 - 08/12/20 08:50 PM Re: Record Retention for Board Meeting Information Comply Central
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Sounds like a good end of summer or fall/winter break job for someone's kid.
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#2240991 - 08/13/20 11:35 AM Re: Record Retention for Board Meeting Information Comply Central
Rocky P Online
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Joined: Jun 2003
Posts: 7,396
Florida
Image, remembering that the information is very sensitive, and needs to have additional retrieving security
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