Kentucky Administrative Regulations (KAR) incorporate federal books and records rules for depository institutions.
Kentucky Revised Statutes (KRS) list records retention requirements for nondepository institutions.
- Check casher information can be found in KRS 286.9-074(1), which states: “…Every licensee shall preserve the books, accounts, financial reports, and records for a minimum of three (3) years.”
- Consumer loan company information can be found in KRS 286.4-600, which states: “Each licensee shall keep and use in his business and shall preserve for at least two (2) years after making final entry therein….for at least three (3) years on loans secured by residential property.”
- Money transmitter information can be found in KRS 286.11-029(1), which states: “Each licensee shall make, keep, and preserve the following books, accounts, and other records for a period of five (5) years…”
- Mortgage lenders and brokers should refer to the federal statute and to KRS 286.8-160. Also review the Mortgage Company and Mortgage Broker Record Retention Schedule [PDF 47KB].
Kentucky Administrative Regulations (KAR) incorporate federal books and records rules for securities.