§ 726.107. How negotiable securities are handled.
146 words·~1 min read·
/us/cfr/t20/s§ 726.107·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Deposits of securities provided for by the regulations in this part must be made with any Federal Reserve bank or any branch of a Federal Reserve bank designated by OWCP, or the Treasurer of the United States, and must be held in the name of the Department of Labor.
(b)If the self-insurer defaults on its obligations under the Act, OWCP has the power, in its discretion, to:
(1)Collect the interest as it may become due;
(2)Sell any or all of the securities; and
(3)Apply the collected interest or proceeds from the sale of securities to the payment of any benefits for which the self-insurer may be liable.
(c)If a self-insurer with deposits of securities has neither defaulted nor appealed from a determination made by OWCP under § 726.104, OWCP may allow the self-insurer to collect interest on the security deposit.
Connections1 cite this
Cited by 1 section
Citation graph
cites case law
§ 726.107
How negotiable securities are handled.
Fed. Reg.×1
Cites 0Cited by 1 across 1 source