Maintaining your accounting records. You must establish and maintain your accounting records using SBA's standard chart of accounts for Licensees, unless SBA approves otherwise.

Location of records. You must keep the following records at your principal place of business or, in the case of paragraph (b)(3) of this section, at the branch office that is primarily responsible for the transaction:

All your accounting and other financial records;

All minutes of meetings of directors, stockholders, executive committees, partners, or other officials; and

All documents and supporting materials related to your business transactions, except for any items held by a custodian under a written agreement between you and a Portfolio Concern or non-SBA lender, or any securities held in a safe deposit box, or by a licensed securities broker in an amount not exceeding the broker's per-account insurance coverage.

Preservation of records. You must retain all the records that are the basis for your financial reports. Such records must be preserved for the periods specified in this paragraph (c), and must remain accessible for the first two years of the preservation period.

You must preserve for at least 15 years or, in the case of a Partnership Licensee, at least two years beyond the date of liquidation:

All your accounting ledgers and journals, and any other records of assets, asset valuations, liabilities, equity, income, and expenses.

Your Articles, bylaws, minute books, and license application.

All documents evidencing ownership of the Licensee including ownership ledgers, and ownership transfer registers.

You must preserve for at least six years all supporting documentation (such as vouchers, bank statements, or canceled checks) for the records listed in paragraph (b)(1) of this section.

After final disposition of any item in your Portfolio, you must preserve for at least six years:

Financing applications and Financing instruments.

All loan, participation, and escrow agreements.

Size status declarations (SBA Form 480) and Financing Eligibility Statements (SBA Form 1941).

Any capital stock certificates and warrants of the Portfolio Concern that you did not surrender or exercise.

All other documents and supporting material relating to the Portfolio Concern, including correspondence.

You may substitute a computer-scanned or generated copy for the original of any record covered by this paragraph (c).