Some of you have been wondering do I have to keep all your client paper application files and associated paperwork. I did some research to see if there were any state regulations related to going paperless.
I found out that the North Dakota Uniform Electronic Transaction Act eliminates legal barriers to the use of electronic technology to create and sign contracts and other records, collect and store electronic records, and conduct everyday transactions electronically.
This includes language that states a paper document and an electronic copy of that document are treated equally. So, I think that you should not be required to keep paper copies for your applications and other documents. But, it would be a good idea to ask your legal counsel.
CAPLAW has a good article on this subject: