12 CFR § 710.7 - Retention of records.

---
identifier: "/us/cfr/t12/s710.7"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 710.7 - Retention of records."
title_number: 12
title_name: "Banks and Banking"
section_number: "710.7"
section_name: "Retention of records."
chapter_name: "NATIONAL CREDIT UNION ADMINISTRATION"
subchapter_number: "A"
subchapter_name: "REGULATIONS AFFECTING CREDIT UNIONS"
part_number: "710"
part_name: "VOLUNTARY LIQUIDATION"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1766(a), 1786, and 1787."
regulatory_source: "58 FR 35365, July 1, 1993, unless otherwise noted."
cfr_part: "710"
---


# 710.7 Retention of records.

(a) The board of directors or liquidating agent shall appoint a custodian for the Federal credit union's records which are to be retained after the final distribution of assets.

(b) All records of the liquidated Federal credit union necessary to establish that creditors were paid and that assets were equitably distributed to the members shall be retained by the custodian for a period of five years following the date of charter cancellation.