GroundRules
12 CFR 1408.40: Refunds.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER XIV—FARM CREDIT SYSTEM INSURANCE CORPORATION
- PART 1408—COLLECTION OF CLAIMS OWED THE UNITED STATES
- Subpart C—Offset Against Salary
(a) In instances where the Corporation is the creditor agency, it shall promptly refund any amounts deducted under the authority of 5 U.S.C. 5514 when:
(1) The debt is waived or otherwise found not to be owed to the United States (unless expressly prohibited by statute or regulations); or
(2) An administrative or judicial order directs the Corporation to make a refund.
(b) Unless required or permitted by law or contract, refunds under this section shall not bear interest.
Collected 2026-08-27T02:24:16Z. Source file · JSON