E68622 · Wilchester Owners Committee

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RP ogso-TRB—inses RECORDS RETENTION POLICY ' for WILCHESTER OWNERS COMMITTEE THE STATE OF TEXAS § § COUNTY OF HARRIS § ‘|, Dave Barcus, President of Wilchester Owners Committee (the “Association”), do hereby certify that at a meeting of the Board of Trustees of the Association (the “Board”) duly of the board members being prese throughout, and being duly authorized to transact business, the following Records Retention Policy was duly approved by a majority vote of the members of the Board: : RECITALS: 1. Chapter 209 of the Texas Property Code was amended to add Section 209.005(m) requiring property owners’ associations to adopt a records retention policy and to set forth minimum retention periods for particular types of documents.

2. The new law became effective on January 1, 2012.

3. The Board of Trustees of the Association desires to adopt a records retention _policy consistent with the new law.

POLICY: It is the policy of the Association to retain the records of the Association listed below for the periods of time set forth below. The Association is not required to retain any other records.

As used herein, “records” means documents originated or obtained by the Association in connection with its operations, whether a paper document or a document in electronic form. To ihe extent that the Association does not currently have copies of Association records for the .

time periods described in this policy, this policy shall only be applicable to Association records created after the date this policy is adopted.

1. Retention Periods. © Record Description ; Record Retention Period a) Financial records (including budgets, | Seven (7) years financial reports, bank records, and paid

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e date this policy is adopted.

1. Retention Periods. © Record Description ; Record Retention Period a) Financial records (including budgets, | Seven (7) years financial reports, bank records, and paid b) Account records .(including records | Five (5) years relating to assessments and other sums owed and paid to the Association and records relating to violations of any dedicatory instrument of the Association) of current owners ——————— EEE Records Retention Policy for Wilchester Owners Committee Page 7 of 3 HY | g) Federal tax returns Seven (7) years One (1) year after the former owner ceases to own a lot in the subdivision c) Account records (including records relating to assessments and other sums owed and paid to the Association and records relating to violations of any dedicatory instrument of the Association) of former owners d) Contracts Four (4) years after expiration — or termination of the contract e) Minutes of meetings of the Board of | Seven (7) years Trustees Minutes of meetings of the members h) State taxretums,ifany i) Audit reports Seven (7) years j) Certificate of Formation and Bylaws of | Permanently the Association and all amendments; Declaration of Covenants, Conditions and Restrictions for each section within the subdivision and all amendments and supplements to each Declaration; annexation documents; and deeds conveying real property to the Association , One (1) year after the date the document is rescinded or superseded by another document ; k) Other dedicatory instruments of the Association not listed in (j), above, including, without limitation, Architectural Guidelines, Rules and Regulations and Policies 1) Minutes and reports of committees

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her dedicatory instruments of the Association not listed in (j), above, including, without limitation, Architectural Guidelines, Rules and Regulations and Policies 1) Minutes and reports of committees m) Insurance policies Four (4) years after expiration or termination of the polic sO n) Insurance claims and related’ Four (4) years after the claim is resolved documents 0) Personnel records, excluding payroll Permanently 2 records p) Payroll records Five (5) years after the date of termination of — employment q) Reserve study ~ ‘For the period of time covered by the study, plus two (2) years .

Permanently r) Legal opinions issued by counsel for the Association _ a Records Retention Policy for Wilchester Owners Committee ~ . Page 2 of 3 RP BaD Te 32074 O re 8) Suit files Seven (7) years after the date the suit is resolved 2. Destruction of Documents.

The documents fisted in Section 1 above, will be destroyed as soon as practicable when the applicable retention period expires. Other documents of the Association not listed in Section 1 above, will be destroyed when deemed appropriate by the Board of Trustees of the . Association. Destruction of paper documents shall be by shredding, bagging and trash pick-up, unless another method of destroying the documents is approved by the Board of Trustees of the .

Association. Destruction of electronic documents shall be by deletion from hard disks and reformatting of removable disks. and that the foregoing Records Retention Policy was approved'by a majority vote of the Board of Trustees as set forth above and now appears in the books and records of the Association, to be

sociation and that the foregoing Records Retention Policy was approved'by a majority vote of the Board of Trustees as set forth above and now appears in the books and records of the Association, to be effective upon recording in the Official Public Records of Real Property of Harris County, Texas.

WILCHESTER OWNERS COMMITTEE By: /Aave Barcus, President THE STATE OF S$. § , , § COUNTY OF § . personally appeared Dave Barcus, President of Wilchester Owners Committée, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purpose and in the capacity therein expressed Return to: /7 Butler | Hailey . z Ne ARG 8901 Gaylord, Suite 100 _ aes en Notary Pablke Stato of Texas Houston, Texas 77024 -PN2.5 My Commission Expires yc A October 17, 2013 . .