(iii) Each tape record series shall be externally labeled and shall include, as a basic part of the program, at the beginning of that series an introduction stating the record series title, date prepared. the name of the official responsible for validating or confirming the data contained therein and an index where appropriate. Each record series shall be closed with a clear and standard notation indicating the completion of that series and the date.

(2) Conversion from other media

(1) Each microform record series shall include, as an integral part, a certificate(s) stating that the microforms are direct and facsmile reproductions of the original records and that they have been Made in accordance with prescribed instructions. Such certificate(s) shall be executed by a person(s) having personal knowledge of the facts covered thereby.

(ii) Each microform record series shall commence and end with a statement as to the nature and arrangement of the records reproduced, and the date. Rolls of film shall not be cut. Supplemental or retaken film whether of misplaced or omitted documents or of portions of microform found to be defective, shall be attached to the beginning of the microform record series and in such an event, the aforementioned certificate shall cover the supplemental or retaken film and shall state the reasons for the subsequent actions.

(iii) If, in accordance with the provisions of paragraph (f) of this section, the utility or licensee elects to convert records to the tape media, the same certification provisions specified in paragraph (e) (1) (iii) of this section must be provided in the conversion program.

(f) Change of media for existing records. Those records prepared and maintained under previous regulations in a paper media and whose remaining retention period falls within the life expectancy range of any of the media detailed in Figure 1, may be converted to that media at the public utility's and/or licensee's option, provided the applicable certification processes described in paragraph (e) of this section are observed and an audit referencing capability maintained.

(g) Media. (1) All records created or maintained in a media and a format other than readable entries on paper shall:

(i) Be prepared, arranged, classified, identified, and indexed as to permit the

subsequent location, examination, and reproduction of the record to a readable media;

(ii) Be stored in such a manner as to provide reasonable protection from hazards such as fire, flood, theft, etc.; and be maintained in a controlled environment;

(iii) Be stored in such a manner as to certification, when damaged. (Also see § 125.2(d) (1).)

(2) The company shall be prepared to furnish, at its own expense, standard facilities for reading media and shall additionally provide, if the Commission so directs, copies of record in a readable form.

(3) All film stock shall be of approved operationally-permanent-record microcopying type, which meets the current specifications of the National Bureau of Standards.

(h) Destruction of records. The destruction of the records permitted to be destroyed under the provisions of the regulations in this part may be performed in any manner elected by the public utility or licensee concerned. Precautions should be taken, however, to macerate or otherwise destroy the legibility of records, the content of which is forbidden by law to be divulged to unauthorized persons.

(1) Premature destruction or loss of records. When records are destroyed or lost before the expiration of the prescribed period of retention, a certified statement listing, as far as may be determined, the records destroyed and describing the circumstances of accidental or other premature destruction or loss shall be filed with the Commission within ninety (90) days from the date of discovery of such destruction.

(j) Schedule of records and periods of retention. The schedule of records, § 125.3, shows the period of time that designated records shall be preserved. However, records related to plant shall be retained a minimum of 25 years unless accounting adjustments resulting from reclassification and original cost studies have been approved by the regulatory commission having jurisdiction, and either (1) continuing plant inventory records are maintained, or (2) unitization of construction costs appear in work orders, except that those relating to the construction of licensed projects, or additions or betterments thereto for which the Commission has not determined the actual legitimate original cost are to be

retained until such cost has been determined. Additionally, all records which affect the determination of amortization reserves related to licensed projects shall be retained until Commission determination and final adjudication is made.

(k) Retention periods designated “Destroy at option". Use of the retention period, "Destroy at option," in the regulations in this Part constitutes authorization for such destruction under the conditions specified for the particular types of records, only if such optional destruction is appropriate to limited managerial interest in such records and if such optional destruction is not in conflict with other legal retention requirements or usefulness of such records in satisfying pending regulatory actions or directives.

(1) Records of services performed by associated companies. The public utility or licensee to which the regulations in this Part apply shall assure the availability of records of services performed by associated companies for the periods indicated herein, as are necessary, to support the cost of services rendered to it by an associated company.

(m) Index of records. At each office of the public utility or licensee where records are kept or stored, such records as are herein required to be preserved shall be so arranged, filed and currently indexed that they may be readily identified and made available to representatives of the Commission.

(n) Schedule of notes:

(1) For the purpose of the regulation, a stockholder's account may be treated as a closed account at the time that such stockholder ceases to be a holder of record of the particular class and series of stock of the company and the 6-year retention period prescribed herein shall run from that date. If such person subsequently acquires shares of capital stock of the company and thus again becomes a stockholder of the company, the record of such acquisition shall be treated as a new stockholder account.

(2) The terms "bonds" and "debentures," as used in captions (a) through (f) of this item, shall include all debt securities, such as bonds, debentures or notes other than debt securities which evidence temporary borrowings and which are expected to be repaid out of the proceeds of the sale of longer term securities. Typical of such temporary debt securities as described in 4(1) would be notes issued to banks evidencing tem

porary working capital and construction loans.

(3) Canceled bonds and debentures and paid interest coupons pertaining thereto may be destroyed, provided that a certificate of destruction giving full descriptive reference to the documents destroyed shall be made by the person or persons authorized to perform such destruction and shall be retained by the company for the period herein prescribed. The certificate of destruction evidencing the destruction of paid interest coupons pertaining to bonds or debentures need not contain a listing of the bond or debenture serial numbers pertaining to such paid interest coupons. When documents represent debt secured by mortgage, the certificate of destruction shall also be authorized by a representative of the trustee (s) acting in conjunction with the person or persons destroying the documents or shall have the trustee(s) acceptance thereon. The certificate of destruction above described may be destroyed 6 years after the payment and discharge of the bonds or debentures or interest coupons described in such certificate.

(4) If a retention period is prescribed elsewhere in the schedule with respect to any document which is included as an exhibit to any filing retained pursuant to the requirements of this item, the company need retain only one copy of such document in its files provided appropriate cross references are established.

(5) Life or mortality study data for depreciation purposes shall be retained for the life of the corporation.

§ 125.3 Schedule of records and periods of retention.

Description

CORPORATE AND GENERAL continued

4. Debt security records 2-Continued

(e) Records of bond and debenture interest coupons paid and unpaid.

(f) Canceled bonds and debentures and paid interest coupons pertaining thereto.

(g) Trust indentures, loan agreements or other contracts or agreements securing debt securities issued. (If such papers or documents are included among the records covered by Subsection 5 of the Regulation, this instruction will not apply.)

(h) Copies of reports, statements, letters or memoranda filed with Trustee (s) pursuant to provisions of trust indenture or other security instrument or agreement securing debt securities issued.

Retention period

Destroy at option.'

Do.

6 years after redemption.

6 years after redemption. (Destroy at option provided that the Trustee (s) under such indenture or security instrument is a National Bank, a member of the Federal Reserve System or a subsidiary or cancellation are mainFederal Reserve System member bank; and provided further that the trustee (s) has certified to the company that copies of all such documents will be available in the offices of the trustee (s) for inspection at any time prior to redemption by holders of debt securities to which such documents relate and for inspection by any Federal or State regulatory authority prior to redemption and for an additional period of six years after redemption.)

(a) Authorizations from regulatory bodies for issuance of securities:

(1) Copies of applications to regulatory bodies for authority to issue stocks, bonds, and other securities, including copies of exhibits in support of such applications.

(2) Official copies of opinions and orders of regulatory bodies granting authority to issue securities. (3) Reports filed with regulatory bodies in compliance with authorizations to issue securities. (Reports of sales of securities of application of proceeds, etc.) File copies of such reports and supporting papers.

See footnotes at end of table.

cellation, provided other records of issuance and payment or cancellation are maintained.

6 years.

26 years or until all securities covered are retired, whichever is shorter.

Until securities covered are retired.

Do.