§ 1902.104 - Establishing or changing a TLA.

(a) Establishing a TLA. (1) After an FI has been selected by the FmHA or its successor agency under Public Law 103-354 field office, the FmHA or its successor agency under Public Law 103-354 office will provide the State Office with the name and address of the FI selected.

(2) The FmHA or its successor agency under Public Law 103-354 field office must have the FI execute a MOU for CBS. Form FmHA or its successor agency under Public Law 103-354 1902-7, will be completed when the MOU is executed. The FmHA or its successor agency under Public Law 103-354 field office will complete item 1 and the FI will complete the rest of the summary. Instructions for completing this form are in the FMI. The FmHA or its successor agency under Public Law 103-354 field office will forward three signed copies of the MOU together with the original and two copies of Form FMHA 1902-7 to the State Office coordinator. The State Office coordinator will check for the following common errors before submitting to the: Cash Management Branch, FmHA or its successor agency under Public Law 103-354 Finance Office, Mail Code FC-354, 1520 Market Street, St. Louis, MO 63103.

(i) Check to see that the local bank has signed all copies of the MOU and has affixed its seal next to the signature.

(ii) Check signature blocks to insure that the local FmHA or its successor agency under Public Law 103-354 office has not signed in any of the blocks provided for the local bank and Treasury. This agreement is between the local bank and Treasury and FmHA or its successor agency under Public Law 103-354 will not be a party to the agreement.

(iii) Do not allow the bank to cross out or change any clauses in the MOU. Treasury will not accept modified agreements.

(iv) Do not allow the bank to retype the agreement as this would require a word-for-word verification of the entire document to determine whether anything had been changed.

(3) The Cash Management Branch will submit the MOU's to Treasury for signature along with the original and one copy of Form FmHA or its successor agency under Public Law 103-354 1902-7. Treasury will sign the copies of the MOU, send one copy to the FI, one to the local FmHA or its successor agency under Public Law 103-354 office, and keep one copy for the files. Treasury will notify the Cash Management Branch if a MOU is rejected.

(4) The local FmHA or its successor agency under Public Law 103-354 office must obtain selected information from the FI for funds transfer purposes on CBS including information necessary to establish a compensation account to receive ACH transfers from the concentrator bank.