§ 357.43. Liability for transfers to and from Legacy Treasury Direct ®.
50 words·~1 min read·
/us/cfr/t31/s§ 357.43·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A depository institution or other entity that transfers to, or receives, a security from Legacy Treasury Direct is deemed to be acting as agent for its customer and agrees thereby to indemnify the United States and the Federal Reserve Banks for any claim, liability, or loss resulting from the transaction.