e-CFR data is current as of January 19, 2021 |
Title 31 → Subtitle B → Chapter II → Subchapter A → Part 223 → §223.19 |
Title 31: Money and Finance: Treasury
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, provided an opportunity to demonstrate or achieve compliance, fails to do so.
[79 FR 62001, Oct. 16, 2014]