D.C. Mun. Regs. tit. 26, r. 26-A2103
Current through Register 71, No. 45, November 7, 2024
All monies received or collected by the management from members for payment into a sinking fund pursuant to an approved Sinking Fund Trust Agreement or Application shall be deposited into the Sinking Fund Trust account within ten (10) days of receipt.
The management of a sinking fund may recommend one or more trustees subject to the Commissioner's approval. If none are approved by the Commissioner, the Commissioner shall designate one or more trustees.
Monies "received or collected" shall include interest and investment income earned by the corpus of the sinking fund.
Funds deposited into a Sinking Fund Trust Account shall remain segregated and shall not be commingled with any other funds.
D.C. Mun. Regs. tit. 26, r. 26-A2103