| (a) A program provider that assists an individual with
personal funds management must:
(1) establish a trust fund account;
(2) identify the trust fund account in accordance with
the financial institution's requirements for trustee accounts;
(3) ensure the trust fund account is insured under
federal or state law;
(4) deposit the individual's personal funds in the
trust fund account; and
(5) ensure an individual's personal funds are not commingled
with the program provider's funds in the trust fund account.
(b) The program provider must maintain a trust fund
account as:
(1) a pooled checking account containing the personal
funds of two or more individuals for whom the program provider manages
personal funds;
(2) a checking account containing the personal funds
of one individual with a financial institution chosen by the program
provider and approved, in writing, by the individual or LAR; or
(3) a checking account containing the personal funds
of one individual with a financial institution chosen by the individual
or LAR.
(c) A program provider that maintains a trust fund
account as a pooled checking account must establish an individual
checking account as described in subsection (b)(2) or (3) of this
section if an individual or LAR requests, in writing, that the individual's
personal funds not be maintained in the pooled checking account described
in subsection (b)(1) of this section.
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