45 C.F.R. § 1629.6

Current through November 30, 2024
Section 1629.6 - What is the required minimum level of coverage?
(a) A recipient must carry fidelity bond coverage or similar coverage at a minimum level of at least ten percent of its annualized funding level for the previous fiscal year.
(b) If a recipient is a new recipient, the coverage must be at a minimum level of at least ten percent of the initial grant.
(c) Notwithstanding paragraphs (a) and (b) of this section, recipients must not carry coverage under this part at a level less than $100,000.

45 C.F.R. §1629.6

82 FR 37180 , 9/8/2017