(a) Inventory Records. A written record or receipt of all distressed, salvageable, and salvaged devices shall be maintained by the salvage establishment or salvage broker and shall include:
  (1) the common name, the brand name or manufacturer, and quantity of the device received;
  (2) the source of the distressed device;
  (3) the date received;
  (4) a brief description of the type or cause of damage (fire, flood, wreck, prolonged storage, warehouse damage, etc.);
  (5) the name of the individual or business that purchases any such device for the purpose of sale or distribution and the date of any such transaction; and
  (6) the date and final disposition of the device (reconditioned, unreconditioned, destroyed, etc.).
(b) Retention of records. All records required in these sections shall be kept at the place of business of the salvage establishment or salvage broker for a period of two years following the completion of any transaction involving a device.
(c) Electronic records. Records required by these sections which are maintained by the salvage establishment or salvage broker on computer systems shall be regularly copied, at least monthly, and updated on storage media other than the hard drive of the computer. An electronic record must be retrievable as a printed copy.

Source Note: The provisions of this §229.612 adopted to be effective December 17, 2002, 27 TexReg 11751