Topic: Loan Documentation
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What are the record retention requirements for loan documentation?
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Disclaimer: The Electronic Commerce Security Act (ECSA) was repealed and replaced with the Uniform Electronic Transaction Act (UETA), effective June 25, 2021. Please note that this change may affect the continued accuracy of this guidance as it pertains to the ECSA. Illinois Statute of Limitations We believe that loan agreements should be retained for a period…