Section R20-4-703. Preservation of Records

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An escrow agent shall preserve the records, books, and accounts pertaining to each escrow transaction for at least three years follow- ing the final settlement date of the transaction. An escrow agent may use an electronic recordkeeping system. The Department shall not require an escrow agent to keep a written copy of the records, books, and accounts if the escrow agent can generate all informa- tion and copies of documents required by A.R.S. § 6-831 in a timely manner for examination or other purposes.

Historical Note

Former Rule 3. R20-4-703 recodified from R4-4-703 (Supp. 95-1). Amended by final rulemaking at 7 A.A.R.

5385, effective November 9, 2001 (Supp. 01-4).

                    
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