GroundRules
31 CFR 223.19: Treasury-initiated revocation proceedings.
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
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.
Collected 2026-08-27T02:25:25Z. Source file · JSON