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NYC Rules of the City of New York

§ 62-20 — Business Procedures - Record Keeping.

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What is NYC RCNY § 62-20?

Quick Answer

(a) Retention of Records. A Broker must keep and maintain all documents required by 35 RCNY § 62-19 and any other documents provided by the Broker and signed by the Broker's client for ten years.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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Effective: 3/13/2020Last amended: 3/13/2020

§ 62-20 Business Procedures – Record Keeping.

RCNY § 62-20

(a)Retention of Records. A Broker must keep and maintain all documents required by 35 RCNY § 62-19 and any other documents provided by the Broker and signed by the Broker's client for ten years. 35 RCNY § 62-20(a) Fine: $250 - $1,000 for each missing documentAppearance NOT REQUIRED (b) Inspection of Records. Upon demand, a Broker must furnish all records and documents listed above to the Commission or its representatives for inspection. 35 RCNY § 62-20(b)Fine: $500 - $1,500 and/or suspensionAppearance REQUIRED (Amended City Record 2/12/2020, eff. 3/13/2020)

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