2001 Minnesota Statutes

     82.23 Broker's records. 

    Subdivision 1.    Retention.  A licensed real estate 
 broker shall retain for three years copies of all listings, 
 deposit receipts, purchase money contracts, canceled checks, 
 trust account records, and such other documents as may 
 reasonably be related to carrying on a real estate brokerage 
 business.  The retention period shall run from the date of the 
 closing of the transaction, or from the date of the listing if 
 the transaction is not consummated.  

    Subd. 2.    Delivery.  Each real estate broker, real 
 estate salesperson, or closing agent shall furnish parties to a 
 transaction a true and accurate copy of any document pertaining 
 to their interests as the commissioner through appropriate rules 
 may require.  

    Subd. 3.    Examination of records.  The commissioner 
 may make examinations within or without this state of each 
 broker's or closing agent's records at such reasonable time and 
 in such scope as is necessary to enforce the provisions of this 
 chapter. 

    HIST: 1973 c 410 s 7; 1989 c 347 s 23,24