STANDARD OF THE WESTSIDE AT BUTTERCUP CREEK MODIFICATION COMMITTEE
Subject: Records Retention policy
Date: September 1, 2011
WHEREAS Texas Property Code § 209.005(m) becomes effective January 1, 2012, requiring associations to adopt policies to retain certain records for minimum periods of time.
BE IT RESOLVED, that the following is the Association's policy for records retention:
- Formation documents, bylaws, CCRs - permanently
- Financials - 7 years
- Owner account records - 5 years
- Contracts with a one year term or more - 4 years from the date of termination.
- Board meeting minutes - 7 years
- Tax returns and audits - 7 years
To the extent these guidelines contradict with any previous guidelines, rules, covenants, or restrictions, these guidelines shall control. These guidelines are supplementary and are in addition to any and all other covenants, conditions, restrictions, rules, and guidelines in effect for the Association.