Haw. Code R. § 6-62-51 - Preservation of records

(a) All ledgers, journals, and other books of accounts, including supporting records, documents, and memoranda, shall be readily accessible to the commission for its review.

(b) No books of accounts and supporting data may be maintained outside the State without prior commission approval. If any of these materials are maintained outside the State, with or without the commission's approval, the motor carrier shall reimburse the commission for all actual costs incurred by the commission in conducting an audit outside the State.

(c) A motor carrier shall not destroy any books, memoranda, and any other documents that support entries to its accounts, except as provided for by this section or by the commission.

(d) The following records shall be permanently preserved:

(1) General and subsidiary ledgers, journals, journal entries, and bank statements for checking and savings accounts;

(2) Certificates or abstracts of title and accounting records that pertain to the acquisition of fixed assets used in the motor carrier's regulated operations and that contain the date of acquisition, purchase price, and accumulated depreciation; and

(3) Capital stock records, minutes of directors', stockholders', and other corporate meetings.

(e) All other records, memoranda, documents, papers, and correspondence shall be preserved for a period of not less than five years or for a longer period as may be ordered by other lawful authority.

Notes

Haw. Code R. § 6-62-51

[Eff SEP 03 1994 ] (Auth: HRS §§ 271-9, 271-25) (Imp: HRS §§ 271-9, 271-25)