- 12 - 



(1) Six (6) cents for each payroll deduction stated on 

 the record which is to accompany the aggregate remittance (for all 

 administrative and payrolling costs in the agency) ; plus 



(2) Twelve (12) cents for each remittance, as a single 

 charge for the entire record accompanying the remittance, regardless of 

 the number of payroll deductions listed (for all check preparation and 

 mail preparation costs in the disbursing office, including postage) . 



(b) In accordance with the provisions of section 501 of the 

 Act of August 31, 1951, 65 Stat. 290 (31 U.S.C. 483a), the total service 

 charge collected pursuant to this section shall be covered into the 

 Treasury as miscellaneous receipts unless the agency has statutory 

 authority otherwise to dispose of the credit. 

 §209.9 Financial organization as agent . 



A financial organization which receives checks under the 

 procedure set out in i§209.3, 209.4 and 209.5 does so in each case as 

 the agent of the employee or beneficiary who has designated the financial 

 organization J :o receive the check and credit his account. Such a 

 financial org.inization may revoke its agency by notice to the employee 

 or beneficiary. The death of that employee or beneficiary revokes the 

 authority of tie financial organization to credit the amount to the 

 account of that individual. In the case of a check covering a payment 

 to one employee or beneficiary, the proceeds of which cannot be credited 

 to the account because of death or any other reason, the financial 

 organization shall promptly return the check to the issuing disbursing 

 officer or remit its own check in an equal amount, with a statement in 



- 62 " 



