24 CFR 982.156 - Depositary for program funds.
(a) Unless otherwise required or permitted by HUD, all program receipts must be promptly deposited with a financial institution selected as depositary by the PHA in accordance with HUD requirements.
(b) The PHA may only withdraw deposited program receipts for use in connection with the program in accordance with HUD requirements.
(i) The depositary may not permit any withdrawal by the PHA of funds held under the depositary agreement unless expressly authorized by written notice from HUD to the depositary; and(Approved by the Office of Management and Budget under control number 2577-0169)
[60 FR 34695, July 3, 1995, as amended at 60 FR 45661, Sept. 1, 1995]
Title 24 published on 2014-04-01
no entries appear in the Federal Register after this date.