Maintaining adequate records has been deemed imperative consideration for different kinds of Associations. It would be pertinent to mention here that essential aspects would be inclusive of creating appropriate record format, storing records in accessible place, formulating policies & procedures, planning for destruction of record eventually and procedures for digital storage of records. It would not be wrong to suggest that both digital and paper files would require appropriate handling according to the specific needs of the Association. However, a record retention checklist would be of great help when you look forward to determining the duration for keeping every file type. However, it would be imperative to check with your legal advisor or accountant in event of rules of the state apply on it.
A huge number of records managers have been made responsible for researching along with analyzing legal requisites for maintaining records by their organizations. Let us delve on the process of analyzing the most difficult legal requisites pertaining to retention of records. It would be the records retension guidelines or laws requisite for maintaining the records. However, the laws do not specify duration of retention along with specific scenarios where no requisite would be found, despite extensive research.
Usually, there would be four kinds of legal requisites that you would come across.
- Stating specific requirement
Several state governments would provide specific duration for retention of records.
- Limitation of action
Limitations of action would be best described as actions those not deemed for record retention needs. Rather, it would be the duration during which an organization would be involved in litigation.
- No retention needs found after research
Despite reasonable research and efforts to locate record requirements, nothing could be found to address specific records.
- No retention duration
No specific time given for records to be maintained. In addition, no specific permission has been given for destruction of records by the concerned authority.