District of Columbia § 42-2704.11 Deposits; payments out of accounts; contracts involving monies held in trust or otherwise for payment of notes or bonds.

District of Columbia Statutes

§ 42-2704.11 — Deposits; payments out of accounts; contracts involving monies held in trust or otherwise for payment of notes or bonds.

District of Columbia § 42-2704.11

Title 42Real Property.

Ch. 27Housing Finance Agency.

Subch. IVFinancial Affairs of the Agency.

This text of District of Columbia § 42-2704.11 (Deposits; payments out of accounts; contracts involving monies held in trust or otherwise for payment of notes or bonds.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 42-2704.11 (2026).

Text

(a)All monies of the Agency, except as otherwise authorized in this chapter, shall be deposited as soon as practicable in 1 or more separate accounts in financial institutions regulated or insured by a federal or District agency. Monies in these accounts shall be paid out on checks signed by the Executive Director or other authorized officers or employees of the Agency.

(b)Notwithstanding the provisions of this section, the Agency shall have power to contract with the holders of its notes or bonds as to the custody, collection, securing, investment, and payment of any monies of the Agency and of any monies held in trust or otherwise for the payment of notes or bonds. Monies held in trust pursuant to a contract with holders of notes or bonds may be secured in the same manner as monies of

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(a) All monies of the Agency, except as otherwise authorized in this chapter, shall be deposited as soon as practicable in 1 or more separate accounts in financial institutions regulated or insured by a federal or District agency. Monies in these accounts shall be paid out on checks signed by the Executive Director or other authorized officers or employees of the Agency.

(b) Notwithstanding the provisions of this section, the Agency shall have power to contract with the holders of its notes or bonds as to the custody, collection, securing, investment, and payment of any monies of the Agency and of any monies held in trust or otherwise for the payment of notes or bonds. Monies held in trust pursuant to a contract with holders of notes or bonds may be secured in the same manner as monies of the Agency.