1. Except as otherwise provided in subsections 2 and 3, after the expiration of 10
years from the filing by the Commissioner of a final report of liquidation of any
insolvent bank, the Commissioner, with the consent of the State Board of Finance,
may destroy the records of any insolvent bank held in the Office of the Commissioner
in connection with the liquidation of the bank.
2. If there are any unpaid dividends of the insolvent bank, the Commissioner shall
preserve the deposit ledger or other evidence of indebtedness of the bank which refers
to the unpaid dividends until the dividends have been paid.
3. The Commissioner may not destroy any of the formal records of liquidation or any
of the records made in the Commissioner’s office with reference to the liquidation
of any insolvent bank.
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