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Minnesota Legislature

Office of the Revisor of Statutes

8275.0130 PROCEDURE UPON DISCONTINUANCE OF BUSINESS AS REPOSITORY.

Each licensed certification authority that discontinues providing services as a recognized repository must deposit the records required by part 8275.0065 in escrow once each calendar year with the organization conducting the audit required by this chapter. The escrowed records must also include a copy of the software needed to read the records or the records must be stored in a retrievable, readable, accurate, complete, and accessible manner. Escrowed records must be kept permanently by the auditor. A licensed certification authority that discontinues providing services as a recognized repository without making other arrangements for preservation of the certification authority's records must submit the escrowed records held by the auditor to another recognized repository or repositories designated by the secretary or to another recognized repository not licensed but recognized in this state, but designated by the secretary.

If the auditor goes out of business, it must transfer all of the escrowed records to another auditing firm designated by the secretary.

Statutory Authority:

MS s 325K.01; 325K.03; 325K.04; 325K.05; 325K.06; 325K.07

History:

23 SR 1352

Published Electronically:

October 27, 2003