this is an outdated text: switch to the updated & improved dc code website
home, about

The DC Code: § 42-2704.11 Deposits; payments out of accounts; contracts involving monies held in trust or otherwise for payment of notes or bonds.

Index42 Real Property. (Refs & Annos)
a
All monies of the Agency, except as otherwise authorized in this chapter, shall be deposited as soon as practicable in 1 or more separate accounts in financial institutions regulated or insured by a federal or District agency. Monies in these accounts shall be paid out on checks signed by the Executive Director or other authorized officers or employees of the Agency.
b
Notwithstanding the provisions of this section, the Agency shall have power to contract with the holders of its notes or bonds as to the custody, collection, securing, investment, and payment of any monies of the Agency and of any monies held in trust or otherwise for the payment of notes or bonds. Monies held in trust pursuant to a contract with holders of notes or bonds may be secured in the same manner as monies of the Agency.

Historical and Statutory

Prior Codifications 1981 Ed., § 45-2141. 1973 Ed., § 45-1926. Legislative History of Laws For legislative history of D.C. Law 2-135, see Historical and Statutory Notes following § 42-2701.01. DC CODE § 42-2704.11 Current through December 11, 2012

Credits

(Mar. 3, 1979, D.C. Law 2-135, § 411, 25 DCR 5008.)