GroundRules
22VAC30-60-370: Allowable investment and custody policies.
Where this section sits in the code
- Title 22. Social Services
- Agency 30. Department For Aging And Rehabilitative Services
- Chapter 60. Grants to Area Agencies on Aging
- Part IV. Administration of Grants and Contracts
- Article 6. General Program Income
The investment of available federal or state funds shall be directed by two principles: (i) all funds received must be protected from unreasonable loss or diminished value, and (ii) investments must be selected to earn a reasonable return on funds not expected to be disbursed immediately. In furtherance of such principles, the following investment mechanisms are authorized:
1. Any interest bearing checking account that is fully insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation;
2. NOW accounts.
Collected 2026-09-14T04:53:42Z. Source file · JSON