N.M. Admin. Code § 12.16.51.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.16.51.8 - CLASSIFICATION AND RETENTION OF PERMANENT AND NONPERMANENT BANK RECORDS

WHEREAS, by the provisions of Section 48-22-33.5 of the statutes of the state of New Mexico, the undersigned commissioner of banking of the state of New Mexico is required to issue regulations classifying all records kept by the state banks and prescribing the period for which records of each class shall be retained; NOW THEREFORE, pursuant to the authority so vestd in me and in conformity with such directive, it is ordered that the Schedule of Periods for the Retention of Permanent and Non-Permanent Bank Records issued October 25, 1967 is hereby repealed and the records kept by New Mexico state banks shall be classified and retained as follows:

A. Permanent records:In accordance with the provisions of law (Section 48-22-33.5) the following are hereby classified as permanent records which shall be retained permanently by all such banks, viz.: the minute books of meetings of executive committee, stockholders and directors, capital stock ledger and capital stock certificate ledger or stubs, general ledger, daily statements of condition, general journal, investment ledger, copies of bank examination reports, FDIC certificates; and charter.

B. Non-permanent records:All records of all such banks not classified hereby as permanent records are hereby classified as non-permanent records; and such non-permanent records shall be retained for the periods specified in the table annexed hereto and may thereafter be destroyed.

C. Applicability to national banks:The provisions of this order of the regulations and classifications hereby adopted shall be applicable to and inure to the benefit of national banks doing business in the state of New Mexico to the full extent permitted by law.

table

N.M. Admin. Code § 12.16.51.8

6/20/75; Recompiled 10/15/01