Mortgage Licensing Act Licensee Record Retention Period [41 Pa.B. 3738]
[Saturday, July 9, 2011]Section 6135(a)(2) of 7 Pa.C.S. (relating to licensee requirements) provides that all 7 Pa.C.S. Chapter 61 (relating to Mortgage Licensing Act) licensee records ''shall be preserved and kept available for investigation or examination by the department for a period determined by the department.'' The Department of Banking (Department) has determined that the period for preserving records by licensees under 7 Pa.C.S. § 6135(a)(2) is a minimum of 4 years. The Department reserves the right to require a licensee to preserve records for a longer period if circumstances should warrant.
GLENN E. MOYER,
Secretary[Pa.B. Doc. No. 11-1134. Filed for public inspection July 8, 2011, 9:00 a.m.]
