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must determine how the account is being used at the time of the eligibility interview and identify the account accordingly. 2615.10.10 TIME DEPOSITS

Time deposits held by financial institutions may be solely or jointly owned. If a time deposit is solely owned, the availability of funds is the deciding factor in determining if the time deposit is a resource. A time deposit such as a savings certificate or certificate of deposit usually is available to the individual and is counted as a resource.

When a time deposit is jointly owned and available, the eligibility worker is to presume that all of the funds belong to each owner. The individuals are to be advised of this presumption and given the opportunity to rebut it. An individual who rebuts is responsible for providing proof of ownership of the funds, which includes a record of deposits and withdrawals from the time deposit account. Immediately following a successful rebuttal, the funds must be separated and placed in separate accounts. Only the funds belonging to the individual will then be counted as a resource. If funds are not separated, the balance is counted in its entirety by each joint owner.

Any interest penalties imposed for withdrawing the time deposit funds prior to maturity are deducted from the total amount when determining the value of the time deposit resource. Interest penalties may involve a reduction in the interest rate and/or loss of interest for a short period of time.

In rare instances time deposits cannot be withdrawn prior to maturity under any circumstances. Funds in this type of account are not included as an asset until they reach maturity and become available.

Verification of a time deposit certificate from the financial institution must include information on when the funds can be withdrawn and any penalties for early withdrawal. 2615.10.15 SAFETY DEPOSIT BOX

The applicant/recipient must present to the eligibility worker a signed statement listing all of the contents of a safety deposit box. The contents must then be evaluated in terms of their countability as a resource. 2615.10.20 COMMINGLED FUNDS (S)

Exempt resources that are kept in a separate account and not commingled in an account with other nonexempt funds shall remain exempt indefinitely.

Resources of students and persons who are self-employed that are exempt as mentioned in Section 2615.90.00 and is commingled in an account with other nonexempt funds shall remain exempt over the period they have been prorated as income.