§ 6-715
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/md/financial-institutions/6-715·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§6–715.
(a)A credit union shall keep the books and records that the Commissioner requires to determine compliance with this title.
(b)Unless a longer period is expressly required by State or federal law, a credit union shall retain the books and records required under subsection
(a)of this section for a period of at least 5 years.
(c)A credit union may retain the books and records required under subsection
(a)of this section at any location, provided that the credit union:
(1)Notifies the Commissioner in writing of the location of the books and records; and
(2)Makes the books and records available at the credit union’s principal place of business, as agreed by the Commissioner and the credit union, within 7 days of a written request for examination by the Commissioner.
(d)A credit union shall retain the books and records required under subsection
(a)of this section in one of the following ways:
(1)Original form;
(2)An electronic equivalent approved by the Commissioner; or
(3)A microphotographic copy approved by the Commissioner.