31 CFR 225.3 - Pledge of Government obligations in lieu of a bond with surety or sureties.

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There is 1 rule appearing in the Federal Register for 31 CFR 225. View below or at eCFR (GPOAccess)
§ 225.3 Pledge of Government obligations in lieu of a bond with surety or sureties.
(a) General. An obligor required by Federal law or regulation to furnish a bond with surety or sureties may give in lieu thereof to a bond official any security acceptable under 31 U.S.C. 9301, as amended. The Secretary will designate classes of Government obligations acceptable under this part.
(b) Bond. The bond, at a minimum, shall irrevocably authorize the bond official to collect, sell, assign, or transfer such Government obligations and any interest retained therefrom in the event of the obligor's default in performing any of the terms, conditions, or stipulations of such bond. Unless otherwise provided by law, the bond shall authorize the bond official to apply the proceeds from the sale, assignment, or transfer of such Government obligations, in whole or in part, to satisfy any costs incurred by the United States related to the default, and to apply any excess proceeds to satisfy any other claim of the United States against the obligor. The bond shall not include any obligations on custodians which are inconsistent with, or in addition to, the obligations in this part. The bond will provide that the bond official may retain any interest accruing upon any Government obligations, or direct that such interest be retained by the custodian.
(c) Amount of Government obligations. The obligor shall pledge to the bond official Government obligations valued as required by 31 U.S.C. 9303, as amended.
(d) Avoiding frequent substitutions. To avoid the frequent substitution of Government obligations, the bond official may reject Government obligations which mature, or are redeemable, within one year from the date they are pledged to the bond official.
(e) Acceptable Government obligations. Types and valuations of acceptable collateral security are addressed in 31 CFR part 380. For a current list of acceptable classes of securities and instruments described in 31 CFR part 380 and their valuations, see the Bureau of the Public Debt's web site at www.publicdebt.treas.gov.
[64 FR 4763, Jan. 29, 1999, as amended at 65 FR 55430, Sept. 13, 2000]

Title 31 published on 2013-07-01

The following are only the Rules published in the Federal Register after the published date of Title 31.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2013-10-02; vol. 78 # 191 - Wednesday, October 2, 2013
    1. 78 FR 60695 - Regulatory Reorganization; Administrative Changes to Regulations Due to the Consolidation of the Financial Management Service and the Bureau of the Public Debt Into the Bureau of the Fiscal Service
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Fiscal Service, Bureau of the Fiscal Service
      Final rule.
      This rule is effective on October 2, 2013.
      31 CFR Chapter II, Parts 202-391

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United States Code

Title 31 published on 2013-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR 225 after this date.

  • 2013-10-02; vol. 78 # 191 - Wednesday, October 2, 2013
    1. 78 FR 60695 - Regulatory Reorganization; Administrative Changes to Regulations Due to the Consolidation of the Financial Management Service and the Bureau of the Public Debt Into the Bureau of the Fiscal Service
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Fiscal Service, Bureau of the Fiscal Service
      Final rule.
      This rule is effective on October 2, 2013.
      31 CFR Chapter II, Parts 202-391