Oregon Statutes 717.260 – Retention of records
(1) Each licensee shall make, keep and preserve the following books, accounts and other records for a period of three years:
Terms Used In Oregon Statutes 717.260
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(a) A record of each payment instrument sold;
(b) A general ledger, posted at least once per month, containing all assets, liabilities, capital, income and expense accounts;
(c) Settlement sheets received from authorized delegates;
(d) Bank statements and bank reconciliation records;
(e) Records of outstanding payment instruments;
(f) Records of each payment instrument paid within the three-year period; and
(g) A list of the names and addresses of all the licensee’s authorized delegates.
(2) Books, accounts and other records required to be maintained under subsection (1) of this section may be maintained:
(a) In a photographic, electronic or other similar form.
(b) At a location outside this state, so long as the books, accounts and other records are made accessible to the Director of the Department of Consumer and Business Services following seven days’ written notice. [1999 c.571 § 14]