# 17 CFR § 270.17f-3: Free cash accounts for investment companies with bank custodians

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-17-270.17f-3

## Section

- **Citation:** 17 CFR § 270.17f-3
- **Heading:** Free cash accounts for investment companies with bank custodians
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 17—Commodity and Securities Exchanges > CHAPTER II—SECURITIES AND EXCHANGE COMMISSION > PART 270—RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940

## Text

No registered investment company having a bank custodian shall hold free cash except, upon resolution of its board or directors, a petty cash account may be maintained in an amount not to exceed $500: Provided, That such account is operated under the imprest system and is maintained subject to adequate controls approved by the board of directors over disbursements and reimbursements including, but not limited to fidelity bond coverage of persons having access to such funds.
(Sec. 17(f), 54 Stat. 815, 15 U.S.C. 80a-17(f), sec. 9, Pub. L. 91-547, 84 Stat. 1420)
[37 FR 9989, May 18, 1972]

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-17-270.17f-3. Check the current official text before relying on it. Not legal advice.