Disbursement means, in the context of payments delivered to Treasury-sponsored accounts, the performance of the following duties by a Financial Agent acting as agent of the United States:
(1) The establishment of an account for the recipient that meets the requirements of the Federal Deposit Insurance Corporation or the National Credit Union Administration Board for deposit or share insurance;
(2) The maintenance of such an account;
(3) The receipt of Federal payments through the Automated Clearing House system or other electronic means and crediting of Federal payments to the account; and
(4) The provision of recipient access to funds in the account on the terms specified by Treasury.


31 CFR § 208.2

Scoping language

The following definitions apply to this part:

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