N.Y. Banking Law § 36-B

Current through 2024 NY Law Chapter 553

Section 36-B - Preservation of books and records

When any provision of this chapter or any rule or regulation adopted pursuant thereto requires that books and records be preserved, such requirement may be satisfied by maintenance of original papers or other records, photographic reproductions, or records stored in electronic storage media. As used in this chapter, "electronic storage media" means any digital storage medium or system that meets the following conditions:

1. It must preserve the records exclusively in non-rewritable, non-erasable format;

2. It must verify automatically the quality and accuracy of the storage media recording process;

3. It must have the capacity to readily download indexes, metadata and records preserved on the electronic storage media to any medium acceptable to the superintendent; and

4. It must be immediately readable on equipment at all times available to the superintendent for examination of such records.

N.Y. BankingLaw § 36-B

Added by New York Laws 2014 , ch. 341, Sec. 1, eff. 12/3/2014.