Sec.36a-40-3. Connecticut banks

(a) Administrative/Corporate - Retention Schedule

(1) Minute books of meetings (corporators, stockholders, directors and all committees) - Permanent

(2) Bank charter or certificate of incorporation, By-laws and Amendments - Permanent

(3) Bank call reports - 7 years

(4) Directors' examination reports, including outside auditors' reports - 7 years

(5) Community Reinvestment Act compliance documentation - 3 years

(6) Earnings and dividend reports to supervising agencies - 7 years

(7) Bank building/branch offices (approval of commissioner for alterations, acquisitions and improvements and all relevant legal documents regarding same) - 25 years

(8) Blanket Bond - 6 years after expiration

(9) All other insurance coverage - 2 years after expiration

(10) Repaid notes for all types of borrowed funds - 7 years after date of repayment

(11) Charged-off asset records - 7 years

(12) Leases, agreements and contracts - 7 years after expiration

(13) Night depository agreements and contracts - 7 years after expiration

(14) Night depository logs/receipts for depositor bags - 1 year after entry or receipt

(15) All legal rulings - 7 years after expiration of resulting action

(16) All federal and state corporate tax records - 7 years

(17) All corporate income and property tax returns - 25 years

(18) All federal and state customer tax records and supporting records - 7 years

(19) Attachments and garnishments of property due customer

(A) After release by judgment or court certificate - 1 year after release

(B) After ordinary release - 7 years after release

(20) Power of Attorney - 7 years after account is closed

(21) Security ledgers (investments) - 7 years

(22) Broker-Dealer confirmations of securities transactions - 7 years

(23) Broker-Dealer account statements - 7 years

(24) Securities purchase and sale blotter - 7 years

(25) General Ledger

(A) Statement of condition (daily) - 25 years

(B) General ledger and subsidiary ledgers - 25 years

(C) All general ledger debit and credit tickets - 7 years

(26) Central Information File

(A) Address changes - 2 years

(B) CIF records - 1 year after termination of customer relationship

(C) Daily report sheets (any changes in account status) - 1 year

(27) Control and Proof

(A) Trial balances on all loan and deposit functions - 7 years

(B) All transaction journals - 7 years

(C) All new and paid-off loan reports - 2 years

(D) All delinquent loan reports - 2 years

(E) Daily reserve computations - 2 years

(F) Balance and verification of cash letters - 2 years

(G) Cash letters - 2 years

(H) Reconcilement and remittances of serviced loan reports - 2 years

(I) Automated clearinghouse, point of sale terminal, automated teller machine and other electronic fund transfer records/transactions - 2 years

(28) Purchasing Department

(A) Inventory and control records - 7 years

(B) Purchase orders - 2 years

(C) Paid bills, orders and expense vouchers - 7 years after date of payment

(29) Personnel and Pensions

(A) Employee list - 3 years

(B) Applications (not hired) - 1 year

(C) Attendance records - 7 years

(D) Employee history records - 3 years after termination

(E) Employee insurance benefit records - 3 years after termination

(F) Payroll register - 3 years

(G) All employee federal and state tax returns - 7 years

(H) Employee payroll deduction plans - 7 years

(I) Pension option forms - 6 years after expiration of option

(J) Pension plans - 7 years after expiration of plan

(K) Retirement certificates - 7 years after death of retiree

(L) Occupational illness and injury records - 5 years

(M) Pension payment register - 7 years

(N) All other employee pension documentation - 7 years

(30) Capital Stock banks

(A) Capital stock certificates (not cancelled), records and stubs - Permanent

(B) Capital stock ledger - Permanent

(C) Capital stock transfer register - Permanent

(D) Receipts of stock certificates, affixed to stub of certificate book - 7 years

(E) Proxies - 3 years

(F) Dividend checks - 7 years after date paid

(G) Dividend register - 7 years

(H) Report of lost or stolen certificates - 3 years

(I) Cancelled capital stock certificates - 7 years after cancellation

(b) Cash - Retention Schedule

(1) Due from banks

(A) Reconcilement of bank statements - 2 years

(B) Check register including all paid checks and drafts - 7 years after issuance of check or draft

(C) Deposit records - 7 years

(D) Signature authorizations - 7 years after termination of authorization

(E) Advices of debit/credit - 6 months

(2) Tellers

(A) Cash item record - 1 year

(B) Tellers' variation record - 1 year

(C) Tellers' balance records - 6 months

(D) Return item register - 2 years

(E) Collection items, incoming and outgoing register - 2 years

(c) Deposit Accounts - Retention Schedule

(1) Demand accounts

(A) Customers' statements - 7 years

(B) Deposit and withdrawal tickets - 7 years

(C) Stop payment orders and releases, lost check affidavits - 7 years

(D) Undelivered statements and cancelled checks - 7 years

(E) Unclaimed deposits - 3 years after escheated to State

(F) Checks ("on us") - 7 years after date paid

(G) Signature cards - 7 years after account is closed

(H) BAD checks and forgery data and correspondence - 7 years

(I) Advices - 6 months

(J) Overdraft reports - 2 months

(K) Unless a longer time is required by this section, records sufficient to reconstruct a demand account and either to trace a check in excess of $100 deposited in a demand account through a Connecticut bank's processing system or to describe a check in excess of $100 deposited in a demand account - 2 years

(2) Official checks and drafts

(A) Officers' checks (if paid) - 7 years after date paid

(B) Officers' check register - 7 years

(C) Certified checks - 7 years after date paid

(D) Certified check register - 7 years

(E) Drafts (if paid) - 7 years after date paid

(F) Draft register - 7 years

(3) Savings and time deposits

(A) Deposit and withdrawal tickets - 7 years

(B) Affidavit of lost passbook - 7 years

(C) Permanent dividend order - 7 years after account is closed

(D) Signature cards - 7 years after account is closed

(E) Unclaimed accounts - 3 years after escheated to State

(F) Certificates of deposit - 7 years after date paid

(G) Individual Retirement Accounts (all records) - 5 years after account is closed

(4) Club deposits

(A) Cancelled checks - 7 years after cancellation

(B) Payment record (coupons, etc.) - 2 years

(C) Check register - 7 years

(d) Loans - Retention Schedule

(1) All loans (to the extent applicable)

(A) Borrowing resolutions - Until loan is paid

(B) Assigned leases, agreements, contracts, deeds, security agreements, releases and other chattel and collateral documents - Until loan is paid

(C) Notes, loan agreements and other loan documents - Until loan is paid

(D) Loan applications, appraisals, credit reports, financial statements, and all other pertinent loan information

(i) For loans which are made - 25 months after loan is paid

(ii) For loan applications which have been denied - 25 months after notice of adverse action

(E) Liability ledger - 7 years after loan is transferred or paid

(F) Inactive credit records and files for paid loans - 7 years after loan is paid

(2) Mortgage Loans

(A) Construction loan record cards - 7 years after final disbursement

(B) Delinquent tax record - 7 years

(C) Foreclosed real estate documents - 7 years after disposal of property

(D) Escrow analysis - 1 year

(E) Payment record (coupons, bills, paid loan ticklers, etc.) - 2 years after respective payment

(F) All documents evidencing compliance with Truth in Lending - 2 years after date disclosures are required to be made or action is required to be taken

(3) Loans and discounts

(A) Collateral receipts (customers) - 7 years after loan is paid

(B) Collateral register or cards - 7 years after disposal of collateral

(C) Pledge agreements including letter of hypothecation - 7 years after loan is paid

(D) Other receipts for items returned to borrower - 7 years

(4) Consumer Loans

(A) Payment record (coupons, bills, paid loan ticklers, etc.) - 2 years after respective payment

(B) Education loan disbursement book (interim loans) - 7 years after transfer

(C) Payment register - 7 years after final payment

(D) Credit Card applications/files - 2 years after account is closed

(E) Interbank credit cards

(i) Transmittal/register - 2 years

(ii) Sales drafts - 7 years

(iii) Customer's statement - 7 years

(F) All documents evidencing compliance with Truth in Lending - 2 years after date disclosures are required to be made or action is required to be taken

(e) Customer Services - Retention Schedule

(1) Safe deposit and safekeeping records

(A) Safe deposit contract cards - 7 years after expiration

(B) Safe deposit access cards and slips - 7 years

(C) Safekeeping records after surrender of item - 7 years

(D) Rent and storage payment receipts - 2 years

(E) Records relating to contents of drilled boxes - 3 years after escheat or other disposition

(F) Cancelled signature cards - 2 years after expiration

(2) Special Services

(A) Travelers check applications - 2 years

(B) Travelers check control and inventory records - 2 years

(C) Savings Bond applications - 4 months

(D) State Revenue Services Commissioner report of death of joint depositor -7 years

(E) Food stamp reports and controls - 1 year

(F) All lottery records/advices - 1 year

(G) Authorization (transfer of funds) - 7 years

(H) Security camera film (processed and unprocessed) and video surveillance system videocassettes, videotape or other output media - 6 months

(I) Unless a longer time is required by this section, a record of each advice, request or instruction given or received by a Connecticut bank which results in the transfer of more than $10,000 of funds, currency, checks, travelers checks, money orders, investment securities or credit to any person, account or place outside the United States - 5 years

(J) Unless a longer time is required by this section, a record of and each document representing a transfer of more than $10,000 of funds, currency, checks, travelers checks, money orders, investment securities or credit to or from any person, account or place outside the United States - 5 years

(K) Unless a longer time is required by this section, each money order or registered check for more than $100 - 5 years

(f) International Department - Retention Schedule

(1) Cable copies - 7 years

(2) Cable requisitions - 7 years

(3) Foreign collection register - 7 years

(4) Foreign draft applications - 7 years

(5) Foreign draft carbons - 7 years

(6) Foreign exchange remittance sheets or books - 7 years after issue

(7) Foreign mail transfer applications - 7 years

(8) Foreign mail transfer carbons - 7 years

(9) Letter of credit applications - 7 years

(10) Letter of credit ledger sheets - 7 years

(g) Trust Department - Retention Schedule

(1) Administrative

(A) Minute book of meetings (Directors, Trust Committee, Officers' Investment Committee and Trust Policy Committee) - Permanent

(B) Surety Bonds - 7 years after expiration

(C) Dividend record cards (closed) - 7 years after payment

(D) Dividend and interest disbursement checks - 7 years after payment

(E) Daily statement of Trust Department - 3 years

(F) Individual vault entry tickets - 7 years

(G) Inheritance tax returns - 7 years

(H) Federal and state tax information returns - 7 years

(I) Transfer tax waivers - 7 years

(J) Corporate trust ledgers - 7 years

(K) Buy and sell orders - 7 years

(L) Bonds and coupons - Until cancellation

(M) Receipts for cancelled bonds and cancelled coupons - 7 years after account is closed

(N) Correspondence - all types - 7 years

(O) Signature files - 7 years after account is closed

(P) Registered and certified mail reports - 3 years

(Q) Paid invoices: Tradesman, professional and miscellaneous - 3 years after payment

(R) Security acquisition reports - 7 years

(2) Probate Trusts, Guardian, Conservator, Estate Accounts

(A) Copy of wills - 7 years after account is closed

(B) Receipts for property delivered - 7 years after account is closed

(C) Assets, income and principal cash ledgers - 7 years after account is closed

(3) Intervivos Trusts, Custody and Agency Accounts

(A) Original instruments - 7 years after account is closed

(B) Receipts for property delivered - 7 years after account is closed

(C) Assets, income and principal cash ledgers - 7 years after account is closed

(4) Stock Transfer

(A) Cancelled certificates - 7 years after cancellation

(B) Dividend assignment - 7 years after release of assignment or account is closed

(C) Stockholders ledgers - 7 years after account is closed

(D) Transfer journal - 7 years after account is closed

(5) General Ledger

(A) Trust ledger - 7 years after account is closed

(B) Check register - 7 years after issue of check

(C) Trust checks cancelled - 7 years after cancellation

(D) Asset ledger, cash ledger, investment ledger and stock transfer ledger - 7 years after account is closed

(Effective June 29, 1994; ; Amended January 30, 1996)