North Dakota § 54-64-05 - Withdrawal - Matching - Permissible uses

§ 54-64-05. Withdrawal - Matching - Permissible uses

1. To receive a match, a participating household must transfer funds withdrawn from the household's individual development account to the household's matching fund custodial account held by the community action agency, according to the individual development account agreement. The community action agency shall determine if the participating household's match request is for a permissible use consistent with the household's individual development account agreement. 2. At least quarterly and at the time of an approved withdrawal, the community action agency shall ensure the household's custodial account contains the applicable matching funds to match the balance in the household's individual development account, not including interest. 3. Matches must be provided as follows: a. From matching funding provided under this chapter, a matching contribution of no more than one dollar for every one dollar of funds withdrawn from the household's individual development account, not to exceed a lifetime limit of two thousand dollars; and b. From nonstate funds, a matching contribution of no less than one dollar for every one dollar of funds withdrawn from the household's individual development account, not to exceed a lifetime limit of two thousand dollars. 4. Upon receipt of transferred custodial account funds, the community action agency shall make a direct payment to the vendor of the goods or services for the permissible use.