Section 175. Books and records  


Latest version.
  • 1. Every private banker shall keep separate
      and complete books of account in which shall  be  promptly  entered  the
      details  of all business transacted by him as a private banker including
      statements in detail of the liabilities incurred by  him  as  a  private
      banker and of the securities or property in which funds held by him as a
      private banker have been invested.
        2.  Every  private  banker shall conform his or her methods of keeping
      his or her books and records to such orders in respect thereto as  shall
      have been made and promulgated by the superintendent pursuant to article
      two  of this chapter. Any private banker who refuses or neglects to obey
      any such order shall be subject to a penalty of an amount as  determined
      pursuant  to  section  forty-four of this chapter for each day that such
      refusal or neglect continues.
        3. Every private banker shall preserve all his records of final entry,
      including cards used under the card system and deposit  tickets,  for  a
      period  of  at  least six years from the date of making the same or from
      the date of the last entry thereon; provided, however, that preservation
      of photographic reproduction thereof or  records  in  photographic  form
      shall constitute compliance with the requirements of this section.