12 CFR 1805.302
§ 1805.302 Restrictions on use of assistance.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 1805.302, § 1805.302 Restrictions on use of assistance, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/51260
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Full text
(a) A Recipient shall use assistance provided by the CDFI Fund and its corresponding matching funds only for the eligible activities approved by the CDFI Fund and described in the Assistance Agreement.
(b) A Recipient may not distribute assistance to an Affiliate without the CDFI Fund's consent.
(c) Assistance provided upon approval of an application involving a Community Partnership shall only be distributed to the Recipient and shall not be used to fund any activities carried out by a Community Partner or an Affiliate of a Community Partner.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.