[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR276.3]

[Page 738]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 276--UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS--Table of Contents
 
Sec. 276.3  Cash depositories.

    (a) Except for situations described in paragraphs (b) and (c) of 
this section, the Bureau will not:
    (1) Require physical segregation of cash depositories for Bureau 
grant funds provided to a grantee.
    (2) Establish any eligibility requirements for cash depositories in 
which Bureau grant funds are deposited by grantees or their subgrantees.
    (b) A separate bank account shall be used when payments under letter 
of credit are made on a ``check-paid'' basis in accordance with 
agreements entered into by a grantee, the Bureau, and the banking 
institutions involved. A check-paid basis letter of credit is one under 
which funds are not drawn from the Treasury until the grantee's checks 
have been presented to its bank for payment.
    (c) Consistent with the national goal of expanding the opportunities 
for minority business enterprises, grantees are encouraged to use 
minority banks.