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e-CFR data is current as of September 17, 2020 |
Title 31 → Subtitle B → Chapter II → Subchapter A → Part 321 → Subpart E → §321.15 |
Title 31: Money and Finance: Treasury
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
§321.15 Liability for losses.
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.