Student Body Finance – Trust and Depository Accounts
A. The student body business office is authorized to serve as a bank for deposit accounts, loan and scholarship accounts.
These shall be self-sustaining and not dependent on any student body fees.
B. At the request of the donor or the administrator, scholarship funds may be invested in banks or savings and loan institutions so that they may earn interest for the fund.
C. A depository account is an account carried for a College organization and its use is limited to the activities of the organization. The student body must carry a balance in cash or in liquid assets to cover all depository accounts.