Security agreement

Security agreement means:
(1) A surety bond issued by a company -
(i) That is listed in the Best's Insurance Reports (Fire and Casualty) with a general policyholders' rating of “A” or better, or
(ii) That is listed in the U.S. Department of Treasury's notice listing companies holding Certificates of Authority as acceptable sureties on Federal bonds and as acceptable reinsuring companies, published in the Federal Register in the first week in July; or
(2) A Surety trust agreement or a letter-of-credit, issued by a Federal Deposit Insurance Corporation-insured financial institution, which provides substantially equivalent protection.

Source

14 CFR § 380.2


Scoping language

For the purposes of this part:

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