2309 Bonds - Municipal, Corporate, Government | Medicaid

Georgia Division of Family and Children Services
Medicaid Policy Manual

Policy Title:

Bonds - Municipal, Corporate, Government

Effective Date:

July 2022

Chapter:

2300

Policy Number:

2309

Previous Policy Number(s):

MT 59

Updated or Reviewed in MT:

MT-65

Requirements

The value of a bond as a resource is its Current Market Value (CMV) as of the first moment of the first day of the month of verification.

Basic Considerations

A bond is a written obligation to pay a sum of money at a specified future date. Bonds are negotiable and transferable.

Municipal

A municipal bond is the obligation of a state or a locality.

Localities include a county, city, town, village, or special purpose authority, such as a school district.

Corporate

A corporate bond is the obligation of a private corporation.

Government

A government bond, as distinct from a U.S. Savings Bond, is a transferable obligation issued or backed by the Federal government. Refer to 2310 Bonds - U.S. Savings.

Procedures

Verify the CMV by contacting the seller of the bond or a securities company, such as a stockbroker.