67-4a-404. Retention of records by holder.
189 words·~1 min read·
/ut/title-67/chapter-4a/67-4a-404A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/9/2017
67-4a-404. Retention of records by holder.
(1)A holder required to file a report under Section 67-4a-401 shall retain records for five years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the administrator.
(2)The holder may satisfy the requirement to retain records under this section through an agent.
(3)The records shall contain:
(a)the information required to be included in the report;
(b)the date, place, and nature of the circumstances that gave rise to the property right;
(c)the amount or value of the property;
(d)the last address of the apparent owner, if known to the holder; and
(e)if the holder sells, issues, or provides to others for sale or issue in this state traveler's checks, money orders, or similar instruments, other than third-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue.
Repealed and Re-enacted by Chapter 371 , 2017 General Session