Current through Register Vol. 35, No. 18, September 24, 2024
The applicant/ recipient's statement is acceptable for
verification of resources unless the household is near the resource maximum
limit and the information given is not questionable. If information is
questionable, inconsistent or the household is near the maximum; ISD must
clearly document why the household's statement was questionable in the case
record and request additional verification. When further information or
verification is requested the following items shall be acceptable:
A. Bank accounts (checking, savings,
certificates of deposit, savings bond, or Keogh's). Documents which may be used
to verify bank or financial institution accounts include:
(1) current bank statement;
(2) statement from the bank or institution
showing the value of the resource or the penalties for early withdrawal of
deposit showing the total value and the penalty for early withdrawal;
(3) savings bond(s) showing total value and
statement from bank/institution of penalty for early withdrawal;
(4) additional items as listed in ISD 135,
"proof checklist"; or
(5) if
documentary evidence is not readily available, use other acceptable methods of
verification as set forth in
8.100.130.9 NMAC.
(6) Joint bank accounts: see appropriate
program chapter for proper verification requirements.
B. Stocks and bonds: Documents which may be
used to verify the value of stocks or bonds include:
(1) newspaper publications of the stock
exchange;
(2) statement from the
stock broker;
(3) additional items
as listed in ISD 135, "proof checklist"; or
(4) if documentary evidence is not readily
available, use other acceptable methods of verification as in
8.100.130.9
NMAC.
C. Life insurance:
Documents which may be used to verify the cash surrender value of life
insurance include:
(1) insurance
policy;
(2) statement from the
insurance company, insurance agent, lodges or fraternal
organizations;
(3) statement from
the union or employer who provide the insurance;
(4) statement from the veteran's
administration;
(5) additional
items as listed in ISD 135, "proof checklist"; or
(6) if documentary evidence is not readily
available, use other acceptable methods of verification as in
8.100.130.9 NMAC;
(7) if the cash surrender value of the life
insurance policy makes the applicant/recipient ineligible, liens against the
insurance shall be explored; this will be done through use of acceptable
methods of verification set forth in
8.100.130.9 NMAC; the cash
surrender value of life insurance is necessary in programs only where it is
countable.
D. Real estate
contracts, purchase contracts: Documents which may be used to verify the value
of real estate or purchase contracts include:
(1) statement from a bank or financial
institution, commodity broker, real estate agent, or expert in the field of
real estate contracts or purchase contracts;
(2) additional items as listed in ISD 135,
"proof checklist"; or
(3) if
documentary evidence is not readily available, use other acceptable methods of
verification as in
8.100.130.9
NMAC.
E. Non-recurring
lump sum payment: Documents which may be used to verify a nonrecurring lump-sum
payment include:
(1) statement from a
company, agency or organization that provided payment;
(2) copy of a check or check stub;
(3) award letters;
(4) statement from an attorney;
(5) additional items as listed in ISD 135,
"proof checklist"; or
(6) if
documentary evidence is not readily available, use other acceptable methods of
verification as in
8.100.130.9
NMAC.
F. Tools and
equipment: Documents which may be used to verify the value of tools and
equipment include:
(1) recent sales
slips;
(2) insurance or tax
appraisals;
(3) catalogs or
newspaper ads;
(4) statement from a
bank, broker, local merchant or expert on tools and equipment;
(5) additional items as listed in ISD 135,
"proof checklist"; or
(6) if
documentary evidence is not readily available, use other acceptable methods of
verification as in
8.100.130.9
NMAC.
G. Real property:
Documents which may be used to verify the value of real property the
applicant/recipient does not use include:
(1)
a written statement from a real estate agent or broker stating the fair market
value of property;
(2) statement
from a bank or financial institution stating value and equity;
(3) additional items as listed in ISD 135,
"proof checklist"; or
(4) if
documentary evidence is not readily available, use other acceptable methods of
verification as in
8.100.130.9
NMAC.
