[Code of Federal Regulations]

[Title 7, Volume 4]

[Revised as of January 1, 2006]

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

[CITE: 7CFR277.7]



[Page 889-890]

 

                          TITLE 7--AGRICULTURE

 

    CHAPTER II--FOOD AND NUTRITION SERVICE, DEPARTMENT OF AGRICULTURE

 

PART 277_PAYMENTS OF CERTAIN ADMINISTRATIVE COSTS OF STATE AGENCIES

--Table of Contents

 

Sec. 277.7  Cash depositories.



    (a) The term ``cash depositories'' refers to banks or other 

institutions which maintain accounts where Food Stamp Program funds are 

deposited and from which withdrawals are made to meet administrative 

costs of the State agency.

    (b) State agencies are encouraged to use minority owned banks to 

expand opportunities for minority enterprises.



[[Page 890]]



    (c) FNS shall not:

    (1) Require physical segregation in a cash depository of program 

funds from other State agency funds.

    (2) Establish any eligibility requirements for cash depositories in 

which program funds are deposited by the State agency.