{"data":{"id":"us-ut/utah-code-61-2f-309","jurisdiction":"us-ut","citation":"Utah Code § 61-2f-309","heading":"Record requirements.","body":"A brokerage and a property manager described in Subsection 61-2f-302(8) shall:\n(1) maintain and safeguard the following records to the extent the records relate to the business of a principal broker:\n(a) trust account records, including the monthly reconciliation of the trust account;\n(b) each document that a licensee affiliated with the principal broker submits to a lender or underwriter as part of a real estate transaction;\n(c) each document the parties to a transaction jointly execute, if the principal broker or an affiliated licensee is required to have an agency agreement; and\n(d) each document that a licensee, over whom the principal broker has supervisory responsibility in accordance with Subsection (1)(c), executes;\n(2) maintain the records identified in Subsection (1):\n(a)\n(i) physically:\n(A) at the principal business location that the principal broker designates on division records; or\n(B) where applicable, at a branch office that the principal broker designates on division records; or\n(ii) electronically, in a storage system that complies with Title 46, Chapter 4, Uniform Electronic Transactions Act; and\n(b) for at least three calendar years after the year in which:\n(i) an offer is rejected;\n(ii) a transaction either closes or fails;\n(iii) in a lease transaction, a lease agreement commences; or\n(iv) the term of a property management agreement ends;\n(3) upon request of the division, make a record identified in Subsection (1) available for inspection and copying by the division;\n(4) notify the division, in writing within ten business days after the day on which the brokerage terminates business operations, of where the brokerage will maintain business records; and\n(5) upon filing for brokerage bankruptcy, notify the division, in writing, of:\n(a) the brokerage bankruptcy filing; and\n(b) the current location of each record identified in Subsection (1).","path":["Title 61 Securities Division - Real Estate Division","Chapter 61-2f Real Estate Licensing and Practices Act","Part 61-2f-3 Operational Requirements"],"source_url":"https://le.utah.gov/xcode/Title61/Chapter2f/61-2f-S309.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"75ae67bbb37b2c1fdcb0906e618af8cc1c7dcdacc8614eb1fe866d9de1ef0c79","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-61-2f-308","next":"us-ut/utah-code-61-2f-401"},"notice":"GroundRules: Original legal text. Not legal advice."}