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 1645-4 - Transfers Of Investments Between Funds
Section 1645-4.1 - Transfers between funds
Universal Citation: 9 NY Comp Codes Rules and Regs § 1645-4.1
Current through Register Vol. 47, No. 12, March 26, 2025
Investments may be transferred from one fund to another. Such transfers shall take the form of a sale must be duly authorized by resolution of the local agency, must be accompanied by an actual transfer of cash from one fund to the other, and shall be made at the book value of the investment as of the date of the transfer. In addition, if the security has been registered, steps must be taken to endorse on the security the name of the fund to which the investment has been transferred, by advising the issuer, or its fiscal or transfer agents, of the change in ownership and submitting the security to be transferred for cancellation and re-issue in the new name.
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