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§ 2729. Record Retention.

10 CA ADC § 2729Barclays Official California Code of RegulationsEffective: April 1, 2022

Barclays California Code of Regulations
Title 10. Investment
Chapter 6. Real Estate Commissioner (Refs & Annos)
Article 4. Brokers
Effective: April 1, 2022
10 CCR § 2729
§ 2729. Record Retention.
Currentness
(a) A real estate broker may use electronic image storage media to retain and store copies of all listings, deposit receipts, canceled checks, trust records and other documents executed by the broker or obtained by the broker in connection with any transaction for which a real estate broker license is required, provided the following requirements are satisfied:
(1) The electronic image storage shall be nonerasable “write once, read many” (“WORM”) that does not allow changes to the stored document or record.
(2) The stored document or record is made or preserved as part of and in the regular course of business.
(3) The original record from which the stored document or record was copied was made or prepared by the broker or the broker's retained staff or employees at or near the time of the act, condition or event reflected in the record.
(4) The custodian of the record is able to identify the stored document or record, the mode of its preparation, and the mode of storing it on the electronic image storage.
(5) The electronic image storage system contains a reliable indexing system that provides ready access to a desired document or record, appropriate quality control of the storage process to ensure the quality of imaged documents or records, and date ordered arrangement of stored documents or records to assure a consistent and logical flow of paperwork to preclude unnecessary search time.
(6) Records copied and stored under this section shall be retained for three years pursuant to Section 10148 of the Code.
(b) A broker will maintain at the broker's office a means of viewing copies of documents or records stored pursuant to this section. A broker shall provide, at the broker's expense, a paper copy of any document or record requested by the Department.

Credits

Note: Authority cited: Section 10080, Business and Professions Code. Reference: Section 10148, Business and Professions Code.
History
1. New section filed 10-26-99; operative 11-25-99 (Register 99, No. 44). For prior history, see Register 96, No. 48.
2. Amendment of subsections (a)-(a)(1) and (a)(4)-(5) filed 11-9-2000; operative 12-9-2000 (Register 2000, No. 45).
3. Change without regulatory effect amending subsection (b) filed 6-30-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 27).
4. Amendment of subsections (a), (a)(3) and (b) filed 1-21-2022; operative 4-1-2022 (Register 2022, No. 3).
This database is current through 6/7/24 Register 2024, No. 23.
Cal. Admin. Code tit. 10, § 2729, 10 CA ADC § 2729
End of Document