9 CRR-NY 1645-3.1NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE S. DIVISION OF HOUSING AND COMMUNITY RENEWAL
CHAPTER III. LOW RENT HOUSING
SUBCHAPTER D. ACCOUNTING MANUAL FOR PUBLIC HOUSING AGENCIES
PART 1645. INVESTMENTS
SUBPART 1645-3. SAFEKEEPING OF INVESTMENTS
9 CRR-NY 1645-3.1
9 CRR-NY 1645-3.1
1645-3.1 Registration of investments.
(a) Securities are issued either registered in the name of the owner or in bearer form. The registration of investments in the name of the local agency is a prime consideration in their safekeeping and no investments in bearer securities should be made without the prior approval of the division and only after adequate safeguards have been provided for the handling and safekeeping of the securities, as described in sections 1645-3.2 and 1645-3.3 below. The form in which the investment is registered should include the name of the local agency, the name and number of the project and the name of the fund whose cash is being invested, as per the following example:
“Yorkburgh Housing Authority, a public corporation, in trust for the purposes of the Sunshine Courts, Project NYS-999 Reserve Fund, under Section ________________ of the contract dated _______________ with the City of Yorkburgh, State of New York.”
(b) No indication need be made in the name in which reserve funds are registered as to the particular reserve for which the investment is being made, in order to facilitate the transfer of investments, which may be made, under certain circumstances, among the various reserves (see § 1645-4.2). The investment ledger sheet should, however, be marked to indicate the applicable reserve. Registered securities should be kept in a safe deposit box.
(c) Savings accounts in savings banks and savings and loan associations shall be registered as follows:
“Yorkburgh Housing Authority, Sunshine Courts, Reserve Fund, in trust under New York State Loan and Subsidy Contract, NYS—999.”
9 CRR-NY 1645-3.1
Current through September 15, 2021
| End of Document |
IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.