[Code of Federal Regulations]
[Title 16, Volume 1]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 16CFR310.5]

[Page 377-378]
 
                     TITLE 16--COMMERCIAL PRACTICES
 
                   CHAPTER I--FEDERAL TRADE COMMISSION
 
PART 310--TELEMARKETING SALES RULE--Table of Contents
 
Sec. 310.5  Recordkeeping requirements.

    (a) Any seller or telemarketer shall keep, for a period of 24 months 
from the date the record is produced, the following records relating to 
its telemarketing activities:
    (1) All substantially different advertising, brochures, 
telemarketing scripts, and promotional materials;
    (2) The name and last known address of each prize recipient and the 
prize awarded for prizes that are represented, directly or by 
implication, to have a value of $25.00 or more;
    (3) The name and last known address of each customer, the goods or 
services purchased, the date such goods or services were shipped or 
provided, and the amount paid by the customer for the goods or services; 
\3\
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    \3\ For offers of consumer credit products subject to the Truth in 
Lending Act, 15 U.S.C. 1601 et seq., and Regulation Z, 12 CFR part 226, 
compliance with the recordkeeping requirements under the Truth in 
Lending Act, and Regulation Z, shall constitute compliance with 
Sec. 310.5(a)(3) of this Rule.
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    (4) The name, any fictitious name used, the last known home address 
and telephone number, and the job title(s) for all current and former 
employees directly involved in telephone sales; provided, however, that 
if the seller or telemarketer permits fictitious names to be used by 
employees, each fictitious name must be traceable to only one specific 
employee; and
    (5) All verifiable authorizations required to be provided or 
received under this Rule.
    (b) A seller or telemarketer may keep the records required by 
Sec. 310.5(a) in any form, and in the manner, format, or place as they 
keep such records in the ordinary course of business. Failure to keep 
all records required by Sec. 310.5(a) shall be a violation of this Rule.
    (c) The seller and the telemarketer calling on behalf of the seller 
may, by

[[Page 378]]

written agreement, allocate responsibility between themselves for the 
recordkeeping required by this section. When a seller and telemarketer 
have entered into such an agreement, the terms of that agreement shall 
govern, and the seller or telemarketer, as the case may be, need not 
keep records that duplicate those of the other. If the agreement is 
unclear as to who must maintain any required record(s), or if no such 
agreement exists, the seller shall be responsible for complying with 
Secs. 310.5(a)(1)-(3) and (5); the telemarketer shall be responsible for 
complying with Sec. 310.5(a)(4).
    (d) In the event of any dissolution or termination of the seller's 
or telemarketer's business, the principal of that seller or telemarketer 
shall maintain all records as required under this section. In the event 
of any sale, assignment, or other change in ownership of the seller's or 
telemarketer's business, the successor business shall maintain all 
records required under this section.