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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 12 - Banks and Banking |
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Chapter XVIII - Community Development Financial Institutions Fund, Department of the Treasury |
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Part 1805 - Community Development Financial Institutions Program |
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Subpart C - Use of Funds/Eligible Activities |
§ 1805.302 - Restrictions on use of assistance.
Latest version.
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§ 1805.302 Restrictions on use of assistance.
(a) A Recipient shall use assistance provided by the CDFI Fund and its corresponding matching funds only for the eligible activities approved by the CDFI Fund and described in the Assistance Agreement.
(b) A Recipient may not distribute assistance to an Affiliate without the CDFI Fund's consent.
(c) Assistance provided upon approval of an application involving a Community Partnership shall only be distributed to the Recipient and shall not be used to fund any activities carried out by a Community Partner or an Affiliate of a Community Partner.