§ 370.45. What is the status of a security if the remittance cannot be collected?
47 words·~1 min read·
/us/cfr/t31/s§ 370.45·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If we cannot promptly collect all of the remittance for a security, we may in our discretion cancel the security unless it has been legally transferred for value to a third person who had no knowledge of the improper debit entry at the time of the transfer.