Sec. 36a-40. (Formerly Sec. 36-2a). Retention of Connecticut bank and credit union records.
107 words·~1 min read·
/ct/title-36a/chapter-664a-administration-and-enforcement/36a-40·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The commissioner may, by regulation adopted in accordance with chapter 54, prescribe periods of time for the retention of records of any Connecticut bank or Connecticut credit union. Records which have been retained for the period so prescribed may thereafter be destroyed, and no liability shall thereby accrue against the Connecticut bank or Connecticut credit union destroying them. In any cause or proceeding in which any such records may be called in question or be demanded of any such bank or credit union or any officer or employee thereof, a showing that the period so prescribed has elapsed shall be sufficient excuse for failure to produce them.