32-1-491. Destruction of bank records. (1) Banks are required to preserve or keep their records of customer accounts for at least 8 years next after January 1 of the year following the time of the making of such records; provided, however, that records showing unpaid balances in favor of depositors of any banks shall not be destroyed. No liability shall accrue against any bank destroying any such records (except records the destruction of which is forbidden hereby) after the expiration of the time provided in this section.
     (2) The department shall adopt rules providing for retention schedules for bank records other than those records listed in subsection (1).

     History: En. Sec. 1, Ch. 77, L. 1951; R.C.M. 1947, 5-1050; amd. Sec. 1, Ch. 314, L. 1983.