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Ponderosa/Shady Ridge POA Record Retention Policy According to Section 209.005(m) of the Texas Property Code , they are: Permanently • Bylaws, articles of incorporation, restrictive covenants and any amendments to these documents 7 years • Financial books and records • Minutes of meetings of owners and the board of directors • Tax returns and audits 5 years • Account records of current owners 4 years after expiration • Contracts with term length of at least one year