{"data":{"id":"us-ky/krs-286.4-600","jurisdiction":"us-ky","citation":"KRS 286.4-600","heading":"Licensee's records -- Retention -- Notice of cessation -- Custodian of","body":"records -- Request for destruction -- Withholding or altering records.\n(1) (a) To enable the commissioner to determine whether the licensee is complying\nwith the provision s of this subtitle, and with the administrative regulations\npromulgated under it, each licensee shall keep and use in his or her business\nbooks, accounts, records, or card systems in accordance with sound\naccounting principles and practices.\n(b) Unless applicable state or federal law requires a longer retention period, the\nlicensee shall, after making the final entry in them, preserve any books,\naccounts, records, or card systems:\n1. For at least two (2) years; or\n2. For at least three (3) years on loans secured by residential property.\n(2) (a) Any licensee that intends to cease operation of any office or offices licensed\nunder this subtitle shall:\n1. Give the commissioner at least thirty (30) days' prior written notice of\nthe cessation of operations, along with a plan for ceasing operations that\nis sufficient to safeguard the interest of the public; and\n2. Designate a custodian of records prior to the cessation of operations,\nwho shall:\na. Agree in writing to serve in that capacity and to comply with the\nrequirements of this section; and\nb. Notify the commissioner of:\ni. The designation of a custodian, including but not limited to\nthe custodian's name, physical address, electronic mail\naddress, and telephone number; and\nii. The physical location where the records required to be kept\nunder this subtitle will be preserved.\n(b) This subsection shall not apply to changes of location authorized under KRS\n286.4-460.\n(3) (a) Except as provided in paragraph (b) of this subsection, all records ref erenced\nin this section shall be made accessible to the commissioner or the\ncommissioner's designated representative upon demand.\n(b) Records held by a designated custodian under subsection (2) of this section\nshall be made accessible upon five (5) business days' written notice.\n(4) If good cause is demonstrated, the commissioner may approve a written request for\nthe destruction of records required to be preserved under this subtitle prior to the\nminimum retention period required under this section.\n(5) It shall be unlawful for any person to knowingly withhold, abstract, alter, remove,\nmutilate, destroy, or secrete any books, records, or other information required to be\npreserved under this subtitle for the purpose of obstructing a subpoena issued, or\ninvestigation or examination conducted, by the commissioner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48945","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:11Z","sha256":"b40bff1c18091406a74b7b3c918e89eba6dff0e55e29dae197924f8875acf46b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.4-590","next":"us-ky/krs-286.4-605"},"notice":"GroundRules: Original legal text. Not legal advice."}