Utah Code 7-9-42. Record requirements
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(1) A credit union shall maintain all books, records, accounting systems, and procedures in accordance with rules the commissioner may prescribe or in accordance with Chapter 1, General Provisions.
Terms Used In Utah Code 7-9-42
- Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
- Credit union: means a cooperative, nonprofit association incorporated under:(6)(a) Chapter 9, Utah Credit Union Act; or(6)(b) Utah Code 7-1-103
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(2) In prescribing these rules, the commissioner shall consider the size of a credit union and its ability to comply.(3) A credit union is not liable for destroying records after the expiration of the record retention time prescribed by the rules.(4) A photostatic or photographic reproduction of any credit union records shall be admissible as evidence of transactions with the credit union.