1301:12-1-03 Record retention.

(A) All records not specifically set forth in the schedule in paragraph (D) of this rule should be retained at least two years.

(B) Branch records should be kept as if part of the main office records.

(C) The responsibility rests with the savings bank to determine if the minimum time periods specified in paragraph (D) of this rule are sufficient to meet the requirements of other government agencies and the specific needs of the savings bank.

(D) Savings banks shall retain records in accordance with the following schedule:

Records to be retained at least six years:

Cash receipt tickets for share accounts deposits, loans or other records of original entry serving the same purpose

Journal entry tickets or vouchers

Cash withdrawal slips

All checks issued by the savings bank

Cash receipts, cash disbursements, general journal vouchers

Safe deposit box records (after completion of record)

Signature cards (after account is closed)

Share assignment or stock transfer records (after completion of record)

Proxies and ballots

Certificates of deposit (after account closed)

Inheritance tax waivers and letters of appointment

Paid bills

General correspondence

Contracts and leases (after expiration)

Depositors’, shareholders’ and mortgagors’ cards should be retained for at least twenty-five years after completion of the record.

Records to be retained permanently:

General ledgers

Shareholders’, directors’, and executive committee minutes

Examination reports

External audit reports

Permanent stock certificates

Records to be returned to the customer:

Passbooks

Paid off mortgage files

Tax and insurance bills

Paid account or share loan notes

HISTORY: Eff 11-17-91; Replaces 1301:12-1-10, eff. 6-3-04

Rule promulgated under: RC 119.03

Rule authorized by: RC 1163.24

Rule amplifies: RC 1163.09

R.C. 119.032 review dates: 05/24/2009