Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 45 - Public Welfare |
Subtitle B - Regulations Relating to Public Welfare |
Chapter XVI - Legal Services Corporation |
Part 1630 - Cost Standards and Procedures |
Subpart D - Closeout Procedures |
§ 1630.21 - Returning funds to LSC.
Latest version.
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§ 1630.21 Returning funds to LSC.
(a) Excess fund balance. If the recipient has an LSC fund balance after the termination of funding and closeout, the recipient must return the full amount of the fund balance to LSC at the time it submits the closing audit to LSC.
(b) Derivative income. Any attorneys' fees claimed or collected and retained by the recipient after funding ceases that result from LSC-funded work performed during the grant term are derivative income attributable to the LSC grant. Such derivative income must be returned to LSC within 15 days of the date on which the recipient receives the income.