Correspondent Management of Funds

Section 140 Section 140.517  Correspondent Management of Funds If the correspondent manages the funds, that individual shall: a)         Report changes in the recipient's circumstances to the local office; b)         Expend the funds for the recipient's benefit; c)         Keep an accurate record of all expenditures; d)         Safeguard the confidentiality of the recipient's funds; and e)         Notify the local office of any lump sum payment received.