§140.517. Correspondent Management of Funds

Latest version.

If the correspondent manages the funds, that individual shall:

a)         Report changes in the recipient's circumstances to the local office;

b)         Expend the funds for the recipient's benefit;

c)         Keep an accurate record of all expenditures;

d)         Safeguard the confidentiality of the recipient's funds; and

e)         Notify the local office of any lump sum payment received.

                    
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