The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
003
:
RECORDS
(Cite as: 8 V.S.A. § 11301)
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§ 11301. Preservation of records
(a) A Vermont financial institution, and a state financial institution with a branch in
this State, shall keep those books, accounts, and records relating to all of its transactions
that will enable the Commissioner to ensure full compliance with the laws of this
State. Each such financial institution shall retain its business records for such
periods as prescribed by the Commissioner by regulation.
(b) Any such financial institution may dispose of any record that has been retained for
the period prescribed by or in accordance with the regulation for retention of records
of its class and thereafter shall be under no duty to produce the record in any action
or proceeding.
(c) Records required to be preserved and retained by law or regulation may be maintained
in paper, photograph, microprocess, magnetic, digital, mechanical, or electronic media,
or in or by any other information storage device or process that forms a durable medium
providing reasonable assurances against tampering and degradation of any reproduction
of the original record and that can be accurately transferred to paper in a legible
written form within a reasonable time. Records maintained in a computer-based format
shall be archival in nature only, so as to preclude the possibility of alteration
of the content of the record by computer once the record has been transferred to that
format. Any record reproduced from a record maintained in compliance with this subsection
shall have the same force and effect as the original thereof and may be admitted in
evidence equally with the original. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)