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
004
:
RECORDS
(Cite as: 8 V.S.A. § 30401)
-
§ 30401. Preservation of records
(a) A Vermont credit union and any state-chartered credit union with an office in this
State shall keep such 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 credit union shall retain its business records for such periods as
prescribed by the Commissioner by regulation.
(b) Any such credit union 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 equal to the original. (Added 2005, No. 16, § 1, eff. July 1, 2005.)