New York Codes, Rules and Regulations
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
Section 1645-3.3 - Safe deposit boxes
Current through Register Vol. 47, No. 12, March 26, 2025
(a) Securities which are not kept in a custodian account shall be held for safekeeping in a safe deposit box. The resolution of the local agency authorizing the renting of a safe deposit box, whether for the safekeeping of securities or for any other authorized purpose, shall specify that access to the safe deposit box shall be had only on the signature and counter signature of at least two authorized persons, who shall also be check signers, that the box be opened only when at least two signatories are present, and that the signatories shall be mutually responsible for the safe delivery of the contents.
(b) Safe deposit rentals are charged to account 1410.8, Office Supplies and Sundry, during the development period, and to account 4140, Project Expense, or the account 4150, Central Office Expense, whichever is applicable, during the operating period.
