Cash Depositories. (a) Disbursements shall be deposited and maintained in a United States Government-insured interesting-bearing account whenever possible. (b) Consistent with the United States Government national goal of expanding opportunities for women-owned and minority-owned business enterprises, Treasury encourages the Participating State to use women-owned or minority-owned depository financial institutions (a depository financial institution which is owned at least 50 percent by women or minority group members). (c) The Participating State is not required to maintain a separate depository account for receiving Disbursements of Allocated Funds. If the Participating State maintains a single depository account where Allocated Funds are commingled with funds from other sources, the Participating State shall maintain on its books a separate subaccount for the Allocated Funds.
Appears in 4 contracts
Samples: Allocation Agreement, State Small Business Credit Initiative Allocation Agreement, State Small Business Credit Initiative Allocation Agreement
