Maryland Statutes
Subtitle 7 - Miscellaneous Regulations
Section 6-715 - Books and Records

(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.

Structure Maryland Statutes