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When a non-recipient is one of the joint owners of real or personal property, the availability of the applicant's/recipient's proportionate share must be determined. If the applicant's/recipient's proportionate share is available to them, it is to be considered a resource as required by the specific assistance category, as discussed in the following sections. 2615.35.10 INCOME-PRODUCING PERSONAL PROPERTY (MED 2) The equity value of farm or business equipment is a countable resource. 2615.35.15 INCOME-PRODUCING PERSONAL PROPERTY (MED 1, 4) Items of personal property utilized in the production of income are exempt resources.36 Examples of such are farm machinery, livestock, tools, equipment, a vehicle used in a business inventory, furnishings, and appliances included with a rental unit. This exemption does not, however, include income- producing financial assets such as certificates of deposit, other interest-bearing bank accounts, stocks, bonds, IRA’s and so forth. 2615.40.00 PERSONAL PROPERTY USED TO PRODUCE FOOD Personal property necessary for the production of food for home consumption is also exempt as a resource.37 This would include such things as garden equipment, farm implements, chickens, and livestock. 2615.45.00 STOCKS, BONDS, AND MUTUAL FUND SHARES Stocks, mutual fund shares, and bonds may be solely or jointly owned. If jointly owned, refer to Section 2605.10.05 for instructions regarding jointly owned real or personal property. Stocks, mutual fund shares, and bonds are considered in the eligibility determination as follows: • Stocks and Mutual Fund Shares: The current market value of shares of stock and mutual fund shares can be verified by reviewing the closing or "bid" price listed in the financial section of the newspaper, or by contacting a brokerage firm. The value to be considered as a resource is the current market value less the legitimate expenses related to the sale of the shares. • Municipal, Corporate, and Government Bonds: A bond is a written obligation to pay a sum of money at a future specified date. It is a negotiable instrument and is transferable. The worker must verify the current market value of bonds by contacting a securities dealer. As with stocks and mutual fund shares, expenses related to the sale of a bond must be deducted from the current market value in order to determine the cash value to be counted as a resource. • United States Savings Bonds: A United States Savings Bond is an obligation of the federal government but, unlike other government bonds, it is not transferable in that it can only be sold back to the government.