A Maryland licensee using the off-site storage route asks how long 2026 records must be held. What minimum retention period applies to that off-site storage arrangement?
Correct Answer
A) At least 61 months in a storage facility disclosed to the Commissioner
The licensee must retain the records for at least 61 months in a storage facility disclosed to the Commissioner. Other choices: the figure is 61 months rather than the 60 of the examination cycle; it is not 36 or 84; and the facility must be disclosed rather than merely secure or in-state. Source: Md. Fin. Inst. § 11-513(c)(2)
Why This Is the Correct Answer
The licensee must retain the records for at least 61 months in a storage facility disclosed to the Commissioner. Other choices: the figure is 61 months rather than the 60 of the examination cycle; it is not 36 or 84; and the facility must be disclosed rather than merely secure or in-state. Source: Md. Fin. Inst. § 11-513(c)(2)
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