Chapter: 1600 Assets Program: MFAM
ii
1640.0409 Conversion of Assets (MSSI, SFP) .................................................................... 14
1640.0410.01 Excluded Assets Replacement (MSSI, SFP) ................................................. 15
1640.0500 ASSETS: DEFINITIONS AND VALUE DETERMINATIONS (MSSI, SFP) .......... 15
1640.0501 Bank Accounts (MSSI, SFP) .............................................................................. 15
1640.0502 Checking and Savings Accounts (MSSI, SFP)................................................... 15
1640.0504 Time Deposits (MSSI, SFP) ............................................................................... 16
1640.0505.04 Retirement Funds (MSSI, SFP) ..................................................................... 16
1640.0505.05 Retirement Funds of Spouses (MSSI, SFP) .................................................. 17
1640.0505.06 Special Accounts for Medical Services (MSSI, SFP) ..................................... 17
1640.0505.07 Individual Development Accounts (MSSI) ...................................................... 17
1640.0506 Verification of Bank Accounts (MSSI, SFP) ....................................................... 18
1640.0507 Burial Contracts and Other Burial Assets (MSSI, SFP) ..................................... 18
1640.0509 Prepaid Burial Contracts (MSSI, SFP) ............................................................... 18
1640.0510 State Law Regarding Prepaid Burial Contracts (MSSI, SFP) ............................ 18
1640.0511.01 Revocable Prepaid Burial Contract (MSSI, SFP) .......................................... 19
1640.0511.02 Value of the Prepaid Burial Contract (MSSI, SFP) ........................................ 19
1640.0512 Irrevocable Burial Trusts (MSSI, SFP) ............................................................... 19
1640.0513 Verification of Burial Contracts or Trust (MSSI, SFP) ........................................ 19
1640.0514 Burial Exclusion Policy (MSSI, SFP) .................................................................. 19
1640.0515 Burial Spaces/Plots (MSSI, SFP) ....................................................................... 20
1640.0516 Burial Spaces (MSSI, SFP) ................................................................................ 20
1640.0517 Verification of Burial Spaces (MSSI, SFP) ......................................................... 21
1640.0518 Cash (MSSI, SFP) .............................................................................................. 21
1640.0519 Verification of Cash (MSSI, SFP) ....................................................................... 21
1640.0523 Foreign Currency or Coins (MSSI, SFP) ............................................................ 21
1640.0526 Disaster Assistance (MSSI, SFP) ....................................................................... 21
1640.0533 Foreign Property (MSSI, SFP)............................................................................ 22
1640.0534 Home (MSSI, SFP) ............................................................................................. 22
1640.0537 Good Faith Effort to Sell (MSSI, SFP) ................................................................ 22
1640.0538 Home as Means of Self-Support (MSSI, SFP) ................................................... 23
1640.0542 Home Verification Requirements (MSSI, SFP) .................................................. 23
1640.0543.01 Home as Principal Place of Residence (MSSI, SFP) .................................... 23
1640.0543.02 Individuals with Homes in Another State (MSSI) ........................................... 24
1640.0543.03 Home Replacement Exclusion (MSSI, SFP) .................................................. 24
1640.0543.04 Home Replacement Period (MSSI, SFP) ....................................................... 24
1640.0543.05 Verification (MSSI, SFP) ................................................................................ 24
1640.0544 Income Producing Property (MSSI, SFP) ........................................................... 25
1640.0548 Income Producing Property (MSSI, SFP) ........................................................... 25
1640.0549 Rate of Return Less Than Reasonable (MSSI, SFP) ......................................... 25
1640.0550 Indian Land (MSSI, SFP).................................................................................... 26
1640.0551 Life Estate Interest (MSSI, SFP) ........................................................................ 26
1640.0554 Life Insurance (MSSI, SFP) ................................................................................ 26
1640.0555 Verification of Life Insurance (MSSI, SFP) ......................................................... 26
1640.0556 Loans (MSSI, SFP) ............................................................................................. 27
1640.0560.01 Evaluating Loans (MSSI, SFP) ...................................................................... 27
1640.0561.02 Promissory Notes Prior to 3/1/05 (MSSI, SFP) .............................................. 28
1640.0561.03 Promissory Notes Signed On or After 03/1/05 (MSSI, SFP) ......................... 29
1640.0561.04 Home Equity Plans (MSSI, SFP) ................................................................... 29
1640.0562 Student Grants, Loans and Scholarships (MSSI, SFP) ..................................... 29
1640.0563 Personal Property (MSSI, SFP) ......................................................................... 29
1640.0565.01 Personal Property (MSSI, SFP) ..................................................................... 30
1640.0565.03 Household Goods/Personal Effects Verification (MSSI, SFP) ....................... 31
1640.0565.04 Value of Household Goods/Personal Effects (MSSI, SFP) ........................... 31
1640.0566 Stocks and Bonds (MSSI, SFP) ......................................................................... 31
1640.0567 Definition of Stocks (MSSI, SFP) ....................................................................... 31