GroundRules
31 CFR 321.15: Liability for losses.
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 321—PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF DEFINITIVE UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)
- Subpart E—Losses Resulting From Erroneous Payments
Under the governing statute, as amended (31 U.S.C. 3126(a)), an agent cannot be relieved of liability for a loss resulting from an erroneous payment unless the Secretary of the Treasury can make a determination that the loss resulted from no fault or negligence on the agent's part.
Collected 2026-08-27T02:25:25Z. Source file · JSON