§ 1-307.71. Use of reserve funds for administrative expenses.

Current through October 23, 2012

(a) No more than 20% of the funds in the opportunity account reserve fund account shall be used for administrative costs of the opportunity account program during either of the first 2 years of an opportunity account program. No more than 15% of the funds in the opportunity account reserve fund account may be used for administrative costs during any subsequent year.

(b) Funds deposited by account holders shall not be used for administrative costs.

                
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(Apr. 3, 2001, D.C. Law 13-266, § 12, 48 DCR 1240.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For Law 13-266, see notes following § 1-307.61.