[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR982.156]



[Page 584-585]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 982_SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM

--Table of Contents

 

   Subpart D_Annual Contributions Contract and PHA Administration of 

                                 Program

 

Sec.  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.

    (c) The PHA must enter into an agreement with the depositary in the 

form required by HUD.

    (d)(1) If required under a written freeze notice from HUD to the 

depositary:

    (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

    (ii) The depositary must permit withdrawals of such funds by HUD.



[[Page 585]]



    (2) HUD must send the PHA a copy of the freeze notice from HUD to 

the depositary.



(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]