§ 223.18. Revocation.
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/us/cfr/t31/s§ 223.18·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Treasury may initiate a revocation proceeding against a Treasury-certified company in one of two ways:
(1)Treasury, of its own accord, under § 223.19, may initiate revocation proceedings against the company when it has reason to believe that the company is not complying with 31 U.S.C. 9304-9308 and/or the regulations under this part; or
(2)Treasury, under § 223.20, may initiate revocation proceedings against the company upon receipt of a complaint from an agency that the company has not paid or satisfied one or more administratively final bond obligations due the agency.
(b)A revocation of a company's certificate of authority under § 223.19 or § 223.20 precludes the company from underwriting or reinsuring additional bonds for any agency, and therefore revokes the company's opportunity to have its bonds presented to any agency bond-approving official for acceptance. \[79 FR 62001, Oct. 16, 2014, as amended at 89 FR 48837, June 10, 2024\]
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- 31 USC 9304-9308
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§ 223.18
Revocation.
Fed. Reg.×2
C.F.R.×1
Cite31 USC 9304-9308
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