Series 6 - Investment Company And Variable Contracts Products Representative Exam
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No member or person associated with a member shall submit for payment a check, draft or other form of negotiable paper drawn on a customer's account without the customer's express written authorization, which may include the customer's signature on the instrument, such as a check. If written authorization is separate from the negotiable instrument, how long must the member preserve the authorization following the termination of the document?
One year
A
Three years
B
Seven years
C
Ten years
D
Explanations
If written authorization is separate from the negotiable instrument, the member must preserve the authorization for a period of three years from the termination of the document.