All Board files shall be retained in the Board’s official office. The Board Executive Director shall maintain a master record of each file checked out of the Board office by Board members. The Board Executive Director shall be notified whenever a Board file is transferred from the possession of one person to another, and shall so note in the Board’s records. Individuals who have in their possession documents or files pertaining to Board affairs are responsible for their protection and privacy. Board files shall be retained for a period of seven years after the lapse of a license.