Record Retention Requirements ("Minnesota Law, Presented by Moss & Barnett")
Are you running out of room to store your old records or wondering how long you need to keep them? Is the often-heard idea that records need to be kept for seven years just an urban legend? Terese West answers these and other questions about record retention. The legal issues that drive records retention guidelines include many statutes of limitation and court rules that provide stiff sanctions for failing to preserve information when needed for a lawsuit. She also covers the important role that a written record retention policy can play for a business.