STATE OF TEXAS §
§
COUNTY OF HARRIS §
This Records Retention Policy for Lakeville Community Association, Inc. (the “Policy”) is adopted by
the Lakeville Community Association, Inc. (the “Association”), a Texas Non-Profit Corporation.
WHEREAS, the Association adopted a Policy through resolution of the Lakeville Community
Association, Inc’s Board of Directors (the “Board”) on 11/11/2014.
NOW THEREFORE, the Association hereby adopts a Records Retention schedule as follows:
1.) Certificates of fomiation, articles of incorporation, restrictive covenants and all arnendtnents to
certificates of formation, and covenants shall be retained permanently at the Association’s principal
office address, electronically or in a storage facility as deemed appropriate by the Board.
2.) Financial books and records shall be retained for seven years at the Association’s principal office
address, electronically or in a storage facility as deemed appropriate by the Board.
3.) Account records of current owners shall be retained for five years at the Association’s principal
office address, electronically or in a storage facility as deemed appropriate by the Board.
4.) Contracts with a term of one year or more shall be retained for four years after the expiration of the
contract term at the Association’s principal office address, electronically or in a storage facility as
deemed appropriate by the Board.
5.) Minutes of meetings of the owners and the Board shall be retained for seven years at the
Association’s principal office address, electronically or in a storage facility as deemed appropriate
by the Board.
6.) Tax returns and audit records shall be retained for seven years at the Association’s principal office
address, electronically or in a storage facility as deemed appropriate by the Board.
Documents not specifically listed above will be retained for the time period of the documents most
closely related to those listed in the above schedule. Electronic documents will be retained as if they were paper
documents. Therefore, any electronic files that fall irtto one of the document types on the above schedule will
be maintained for the identified time period.
Documents not specifically listed above will be retained for the time period of the documents most
closely related to those listed in the above schedule. Electronic documents will be retained as if they were paper
documents. Therefore, any electronic files that fall into one of the document types on the above schedule will
be maintained for the identified time period.
The custodian of the records of the Association is responsible for the ongoing process of identifying the
Association`s records which have met the required retention period and overseeing their destruction.
Destruction of any physical documents will be accomplished by shredding. Destruction of arty electronic
records of the Association shall be made via a reasonable attempt to remove the electronic records front all
known electronic locations and/or repositories.
EFFECTIVE DATE:
11/11/2014
Authorized Board Member Signature
& Date:
3-4-15
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For Certification, signature, and notary please refer to the PDF Page
