Answer: The agreement mandates monthly deposits of $7,403.
Trend: Consistent compliance with this requirement is crucial for maintaining regulatory standing.
List: Ensure all deposits are made on time to avoid penalties and review the agreement for any updates.
Finding Text
The regulatory agreement (as amended) requires monthly deposits of $7,403.
Corrective Action Plan
Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $944. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.