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#609288 - 09/05/06 04:48 PM Can we pay interest on municipal accounts?
complyami Offline
100 Club
complyami
Joined: Feb 2003
Posts: 134
I need a quick answer regarding the restrictions(if any)for paying interest on checking accounts for municipalities - such as "the city of ___, water dept". I'm going to try to research it myself, but thought someone out there might be able to answer faster than I can find it. Thanks

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Operations Compliance
#609289 - 09/05/06 05:19 PM Re: Can we pay interest on municipal accounts?
cbinder63 Offline

Platinum Poster
cbinder63
Joined: Dec 2001
Posts: 674
Colorado
Yes, look at the NOW account restrictions. Reg D, 204.130(d) Governmental Units. 204.130(d)
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#609290 - 09/05/06 05:51 PM Re: Can we pay interest on municipal accounts?
complyami Offline
100 Club
complyami
Joined: Feb 2003
Posts: 134
Found it...thanks a bunch!!! (some days don't have enough minutes in each hour)

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