Library: Policy

317:35-5-41.4. Stocks and bonds

Issued 8-1-07

(a) The member's equity in stocks and bonds (including U.S. Savings Bonds series A thru EE) is considered in relation to the maximum resource limit.  The current market value less encumbrances is the equity.  In general, determination of current market value can be obtained from daily newspaper quotations, brokerage houses, banks, etc.

(b) The current value of U.S. Savings bonds which have been held beyond the maturity date is the redemption value listed in the table on the back of the bond for the anniversary date most recently reached.  If the bond has been held beyond maturity date, it has continued to draw interest.  An acceptable determination of the value may be made by checking against a chart at the bank.