31 CFR 240.5 - Limitations on payment; cancellation and distribution of proceeds of checks.
(1) Treasury shall not be required to pay any check that is not negotiated to a financial institution within 12 months after the date on which the check was issued.
(2) All checks shall bear a legend, stating “Void After One Year.” The legend is notice to payees and indorsers of a general limitation on the payment of checks. The legend, or the inadvertent lack thereof, does not limit, or otherwise affect, the rights of Treasury under the law.
(1) Any check that has not been paid and remains outstanding for more than 12 months after the issue date will be canceled by Treasury.
(2) The proceeds from checks canceled pursuant to paragraph (b)(1) of this section will be returned to the payment certifying or authorizing agency for ultimate credit to the appropriation or fund account initially charged for the payment.
Title 31 published on 2014-07-01.
No entries appear in the Federal Register after this date, for 31 CFR Part 240.