(1) A savings association shall keep correct and complete records, books of account and minutes of the proceedings of members, directors and the executive committee. Associations shall use such forms and observe such accounting principles and practices as the Director of the Department of Consumer and Business Services by rule requires from time to time.
(2) An association may cause any or all records kept by the association to be copied or reproduced by any photostatic, photographic or microfilming process that correctly and permanently copies, reproduces or forms a medium for copying or reproducing the original records on a film or other durable material, and the association may thereafter dispose of the original record. Such copy or reproduction shall be considered an original record for all purposes and shall be treated as an original record in all courts or administrative agencies for the purpose of its admissibility in evidence. A facsimile, exemplification or certified copy of any such copy or reproduction reproduced from a film record shall, for all purposes, be considered a facsimile, exemplification or certified copy of the original record. [1975 c.582 §74]
Section: Previous 722.145 722.147 722.148 722.150 722.152 722.154 722.155 722.156 722.158 722.160 722.162 722.164 722.165 722.167 722.170 NextLast modified: August 7, 2008