D.C. Mun. Regs. tit. 8, r. 8-B414
The President shall determine the bank or banks in which funds of the University shall be deposited.
The President shall inform the Treasurer of the Board of the bank or banks where funds are deposited.
The Treasurer shall ensure that the bank or banks in which University funds are deposited furnish the required depository protection, in accordance with §§ 414.4 through 414.6.
Depositories where funds of the University are held in time deposits shall give a depository bond underwritten by an acceptable security company qualified to do business in the District of Columbia, or shall deposit those funds in other depositories in accordance with § 414.5.
If funds are not subject to a depository bond, the depository shall deposit securities of the following classes with another depository satisfactory of the Treasurer:
The current market value of securities deposited in accordance with the provisions of § 414.5 shall be equal to or in excess of the amount of the time deposits held by the depository.
The Board, upon the recommendation of the Treasurer, shall designate the University official or officials who have authority to sign checks drawn on banks where funds of the institution are deposited. Persons so designated shall have authority to sign any related documents that are required by the depository banks.
D.C. Mun. Regs. tit. 8, r. 8-B414