GroundRules
31 CFR 223.18: Revocation.
Where this section sits in the code
- Title 31—Money and Finance: Treasury
- Subtitle B—Regulations Relating to Money and Finance
- CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY
- SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE
- PART 223—SURETY COMPANIES DOING BUSINESS WITH THE UNITED STATES
(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.
Collected 2026-08-27T02:25:25Z. Source file · JSON