Hi List,

I faced a question like this a few years ago with the dissolution of a
small power utility. I had to work with the legal department to learn our
obligations relating to the dissolved company. The company I worked for had
bought out the company and then dissolved it. The living company assumed
some of the liabilities, thus the record keeping responsibilities, of the
dissolved. One odd situation was regarding site contamination inspection
records (EPA). Basically, the living company had no legal obligations to
deal with any past contamination done by the dissolved company. However,
the legal department determined that since they may be seen as the "last
living relative," someone in the future might try to hold them
accountable/liable for any heretofore undiscovered contamination. Thus,
site records were kept for defense. The legal team did this because the
liability laws for assigning clean-up duty of sites changed enough to
warrant keeping proof of innocence.

- Chuck Piotrowski

On Fri, Sep 8, 2017 at 3:49 PM, Petersen, Steve <
[log in to unmask]> wrote:

> I work in the financial services/insurance industry and in our attempt to
> centralize the program and its records I've come across an old inventory of
> physical records from a company that was dissolved in the mid 90's.  I'm
> sure the answer is "It depends"  but thought I'd ask if there are any
> specific rules( governmental/industry) that would change the current
> retention rules/periods for the record types, given the entity has been
> dissolved?
>
> I've laid out the metrics on the inventory including detail, retrieval
> rates and former record owners but thought I would ask the question above
> before I continue to create a review/destruction plan.  A yes answer would
> make the plan less complicated and possibly avoid a detailed risk analysis.
>
> Have a great week end, Be safe if in weather related area's and GO
> CYCLONES.
>
> Thanks
>
> Steve Petersen, CRM | Records Manager, Records & Information Management
> o: 319-355-5837 |
> e: :[log in to unmask]<mailto:[log in to unmask]>|
> w: www.transamerica.com<http://www.transamerica.com>
>
> Transamerica
> [6400 C ST SW Cedar Rapids, IA 52404]
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>
>
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