Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 4 - Countable Resources
Rule 23-103-4.15 - Corporate Bonds
Universal Citation: MS Code of Rules 23-103-4.15
Current through September 24, 2024
A. General.
1. Corporate bonds are the obligation of a
private corporation. Corporations sell bonds to raise capital.
2. There are two type of corporate bonds:
a) Debentures are backed by the issuer's full
faith and credit; and
b)
Mortgage-Backed bonds are backed by a lien on the company's assets.
3. Corporate bonds are issued in
two forms:
a) Registered bonds pay interest to
their registered owner; and
b)
Bearer or coupon bonds pay interest to whomever holds the bond.
B. Treatment.
1. Ownership is determined by the receipt of
purchase.
2. The bond value is
obtained from the issuer, i.e., broker, securities dealer, etc., and is a
countable resource.
Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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