§ 223.19. Treasury-initiated revocation proceedings.
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/us/cfr/t31/s§ 223.19·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Whenever Treasury has reason to believe that a company is not complying with the requirements of 31 U.S.C. 9304-9308 and/or the regulations under this part, including but not limited to a failure to satisfy corporate and financial standards, Treasury shall:
(a)Notify the company of the facts or conduct which indicate such non-compliance, and provide the company an opportunity to respond, and
(b)Revoke a company's certificate of authority after providing notice to the company if:
(1)The company does not respond satisfactorily to Treasury's notification of non-compliance, or
(2)The company responded, was provided an opportunity to demonstrate or achieve compliance, and failed to do so. \[79 FR 62001, Oct. 16, 2014, as amended at 89 FR 48837, June 10, 2024\]
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- 31 USC 9304-9308
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§ 223.19
Treasury-initiated revocation proceedings.
Cite31 USC 9304-9308
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