                                 CODE OF VIRGINIA

RETENTION OF RECORDS (§ 55.1-2537)

A. Every holder required to file a report under &#xA7; 55.1-2524, shall retain
all books, records, and documents necessary to establish the accuracy and
compliance of such report for five years after the report is filed pursuant to
subsection B of &#xA7; 55.1-2524. If no report is filed, the holder shall retain
such books, records, and documents for 10 years after the property becomes
reportable, except to the extent that shorter time is provided in accordance
with the Virginia Public Records Act (&#xA7; 42.1-76 et seq.), in accordance
with subsection B, or by rule of the administrator. As to any property for which
it has obtained the last known address of the owner, the holder shall maintain a
record of the name and last known address of the owner for the same retention
period.

B. Any business association that sells in the Commonwealth its traveler&#8217;s
checks, money orders, or other similar written instruments, other than
third-party bank checks on which the business association is directly liable, or
that provides such instruments to others for sale in the Commonwealth, shall
maintain a record of those instruments while they remain outstanding, indicating
the state and date of issue for three years after the date the property is
reportable.

HISTORY: 1983, c. 190, § 55-210.24:1; 1985, c. 294; 1988, c. 378; 2000, cc.
733, 745; 2019, c. 712.