Collector Depositary Law and Legal Definition

According to 31 CFR 203.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter II -- Fiscal Service, Department of the Treasury; Subchapter A -- Financial Management Service; Part 203 -- Payment of Federal Taxes and the Treasury Tax and Loan Program; Subpart A -- General Information], collector depositary means “a TT&L depositary that accepts paper tax payments from business customers and that may also process electronic tax payments from customers, but that does not retain any such deposits as investments or accept dynamic, direct, or special direct investments. A collector depositary may accept term investments.”