Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Public Service Commission
Preservation of Records of Electric, Gas, And Water Utilities
Part 2 - SCHEDULE OF RECORDS AND PERIODS OF RETENTION
Section R. 460.2519 - Contracts and agreements; retention periods

Universal Citation: MI Admin Code R. 460.2519
Current through Vol. 24-04, March 15, 2024

Rule 19. Except as provided elsewhere in these rules, the following contract and agreement records shall be retained for the periods listed:

(a) Service contracts, such as for management, accounting, and financial services including related memoranda and revisions.

See R 460.2522(b)(i) if they affect cost of plant; otherwise, 6 years after expiration or cancellation or until the conclusion of any contract disputes or governmental proceedings pertaining to these contracts, whichever is later.

(b) Contracts with other utilities for the purchase, sale, or interchange of product, including related memoranda or revisions.

6 years after expiration or cancellation or until the conclusion of any contract disputes or governmental proceedings pertaining to these contracts, whichever is later.

(c) Leases pertaining to rentals of property to or from others.

6 years after expiration or cancellation or until the conclusion of any contract disputes or governmental proceedings pertaining to these contracts, whichever is later.

(d) Contracts and agreements with individual employees, labor unions, company unions, and other employee organizations relative to wage rates, hours, and similar matters.

6 years after expiration or cancellation or until the conclusion of any contract disputes or governmental proceedings pertaining to these contracts, whichever is later.

(e) Contracts, agreements, and other essential records necessary to the carrying out of the functions of an employee's stock purchase or other type of employees' saving plan.

6 years after expiration or cancellation.

(f) Memoranda essential to clarifying or explaining provisions of contracts listed in subdivisions (a) to (e) of this rule.

For same periods as contracts to which they relate.

(g) Card or book records of contracts leases, and agreements made, which show dates of expirations, dates of renewals, memoranda of receipts, and payments under such contracts, leases, and agreements.

For same periods as contracts to which they relate.

(h) Contracts or agreements for the acquisition or disposal of investments, excluding temporary cash investments.

25 years after disposal.

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