Occasionally Magic Memories establishes retention or destruction schedules or procedures for specific categories of records. This is done to ensure legal compliance and accomplish other objectives, such as protecting intellectual property and controlling costs. Employees should give special consideration to the categories of documents listed in the record retention schedule below.
Schedule Table
Record |
Retention Period |
|---|---|
Corporate Records | |
Articles of Incorporation, Bylaws, Corporate Seal |
Permanent |
Annual corporate filings |
Permanent |
Board policies, resolutions, meeting minutes, and committee meeting minutes |
Permanent |
Contracts |
Permanent if current (7 years if expired) |
Resolutions |
Permanent |
Magic Memories Corporate Accounts | |
2 years after the date of the employee’s separation from employment |
|
Digital Documents |
Transfer to manager at end of last day of employment |
| Chats (Slack, Google Chat, etc.) |
2 years after the date of the employee’s separation from employment |
Customer Data | |
Customer Data Retention |
|
Litigation Holds and Other Special Situations
Magic Memories requires all employees to comply fully with its published records retention schedules
and procedures that it may issue from time to time. All employees should note the following general exception to any stated destruction schedule: If you believe, or the Legal Department informs you, that Magic Memories records are relevant to current litigation, potential litigation (that is, a dispute that could result in litigation), government investigation, audit, or other event, you must preserve and not delete, dispose, destroy, or change those records, including emails, until the Legal Department determines those records are no longer needed. This exception is referred to as a litigation hold or legal hold, replaces any previously or subsequently established destruction schedule for those records. If you believe this exception may apply, or have any questions regarding whether it may possibly apply, please contact the Legal Department.
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