(a)

1. (1) Grantees must provide a dedicated, FDIC-insured, non-interest-bearing checking account to receive ACEDP funds by electronic direct deposit.
2. (2) Grantees may not use an existing account held by the grantee for general use.
3. (3) Grantees must not deposit any funds other than ACEDP grant funds into this account.
4. (4) Grantees must use this account solely to receive and expend ACEDP grant funds.
5. (5) Grantees must ensure the checking account features numbered checks that are preprinted with the project name as well as the ACEDP grant control ID number and require a countersignature for issuance.

(b)

1. (1) Unless the grantee’s method of appropriating funds has been approved by the Arkansas Natural Resources Commission, a minimum of two (2) persons, whose signatures appear on the Bank Designation and Check Signature Form, must be authorized to sign and countersign disbursement checks.

2. (2) At least one (1) person authorized to sign checks on the ACEDP grant account must be:

   1. (A) An employee of the grantee; and
   2. (B) Bonded under the grantee’s public employee blanket performance bond.
3. (3) Persons authorized to sign checks on the ACEDP grant account are prohibited from signing any RFP and must not be authorized to do so on the Request for Payment Signature Form.
4. (4) Persons authorized to sign checks on the ACEDP grant account must not have any financial interest in the project.