327B.06 DEALER'S RECORDS.
Subdivision 1. Retention.
A dealer shall retain for three years copies of all listings, deposit
receipts, credit applications, contracts, disclosure forms, canceled checks, trust account records
and other documents reasonably related to carrying on the business of a dealer. 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. Examination of records.
The commissioner may make examinations within or
without this state of each dealer's records at such reasonable time and in such scope as is necessary
to enforce the provisions of sections
History: 1982 c 526 art 1 s 6