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This is an obsolete version of the rule. Please click on the rule number to view the current version.

8.99.509    ADMINISTRATIVE ACCOUNT

(1) The microbusiness administrative account into which interest from development loans and other program income is deposited may accumulate an operating reserve equivalent to 12 months of program administrative expenses.

(2) Money in the administrative account may be transferred to the development loan account or be used to pay the costs of the program.



History: Sec. 17-6-406, MCA; IMP, Sec. 17-6-407, MCA; NEW, 1992 MAR p. 42, Eff. 1/17/92; AMD, 1993 MAR p. 2236, Eff. 10/1/93.

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