Opening and maintaining a New York State segregated refund value bank account

1. Open a segregated refund value account

• Open an interest-bearing checking or savings account in a federally insured bank or credit union located in New York State.
• Have the funds in the account held in trust for New York State.
• Use this account only for collecting deposits for beverage containers you sell, and reimbursing customers for beverage containers they redeem.

2. Make deposits into the refund value account

• At least once every five business days you must deposit all of the refund values you collect into your segregated refund value account.
• Have all interest and dividends earned on the account paid directly into the account.

3. Only make payments of service charges and reimbursements of deposits from the refund value account

• You may make payments of service charges on the refund value account from the account.
• You may reimburse your clients or customers on redeemed beverage containers from the account.
• You may not make any other payments, including the handling fee that must be paid to a dealer or redemption center, from the refund value account.