245.0 VIII-1.30 - POLICY ON WITHDRAWAL OF FUNDS FROM BANK ACCOUNTS
 
 
  (Approved by the Board of Regents, June 21, 1990)
 
 
        Any check or other evidence of withdrawal of funds from any
  bank account held in the name of the University of Maryland
  System or of a constituent institution or component shall be
  accomplished according to procedures established by the Chief
  Executive Officer of each constituent institution and component.
  The procedures at a minimum shall provide that:
 
        1.  Withdrawals of funds in an amount of $5,000 or more
            shall require the signature of two persons;  only one
            of such signatures may be mechanically affixed.
 
       2.   Withdrawals of funds in an amount of less than $5,000
            require only one signature unless otherwise established
            by a Chief Executive Officer of a constituent
            institution or component.
 
 
  Replacement for:  BOR VI - 1.00
 

Email this Page to a Colleague       Printer Friendly Version

University System of Maryland
3300 Metzerott Road
Adelphi, MD 20783-1690, USA
301.445.2740

University System of Maryland Privacy Statement | ADA Compliance

Copyright © 2006 University System of Maryland
USM is not responsible for content or information derived from links to remote servers.

State of Maryland