SECTION 260.261. Trust Fund Transactions

(a) A program provider must maintain a written trust fund ledger in which the following information is documented:

(1) date and amount of each deposit or withdrawal;

(2) source of each deposit;

(3) name of the individual on whose behalf the deposit is made;

(4) reason for each withdrawal;

(5) name of the person or entity who receives withdrawn funds; and

(6) balance after each transaction.

(b) A program provider must ensure an individual or LAR signs the trust fund ledger or a trust fund transaction form for each deposit and withdrawal at the time of the transaction.

(1) For a withdrawal, if an individual or LAR is unable to sign the trust fund ledger or trust fund transaction form, the program provider must obtain the signature of one person as a witness to the withdrawal.

(2) A program provider does not have to obtain a signature for a withdrawal that meets the definition of a recurring payment as described in §260.263 of this subchapter (relating to Recurring Payments).

Source Note: The provisions of this §260.261 adopted to be effective February 26, 2023, 48 TexReg 896