71 FR 60848, Oct. 7, 2006, unless otherwise noted.
This part provides guidance on when a surety corporation must appoint a service of process agent and how the surety corporation complies with this requirement.
For purposes of this regulation:
(a) Principal means the person or entity required to provide a surety bond.
(b) Process agent means a resident agent for service of process.
(c) State means a State, the District of Columbia, or a territory or possession of the United States.
A surety corporation may provide a bond without appointing a process agent when the State where the bond is filed, the State where the principal resides, and the State where the surety corporation is incorporated are the same.
A surety corporation must appoint a process agent when either the State where the bond is filed or the State where the principal resides is different from the State where the surety corporation is incorporated. In such a case, the surety corporation must appoint a process agent in each such State that is different from the State where the surety is incorporated.
A surety corporation may appoint either of the following as process agent - (a) An official of the State who is authorized or appointed under the law of that jurisdiction to receive service of process on the surety corporation; or
(b) An individual who resides in the jurisdiction of the district court for the district in which a surety bond is filed and who is appointed by the surety corporation by means of a power of attorney. A certified copy of the power of attorney must be filed with the clerk of the district court for the district in which a surety bond is to be provided. In addition, the surety corporation must provide the clerk of the United States District Court at the main office in each judicial district with the required number of authenticated copies of the power of attorney for each divisional office of the court within that judicial district.
The Surety Bond Branch provides a sample form on its Web page located at: http://www.fiscal.treasury.gov/c570. While use of the sample form is not required, any power of attorney provided should be substantially the same as the sample form.
A list of the divisional offices of the court in each judicial district may be obtained from the Federal Judiciary, U.S. Courts Web page at http://www.uscourts.gov, or by mail by writing to: Office of Public Affairs, Administrative Office of the U.S. Courts, Washington, DC 20544.
The surety corporation must immediately appoint a new process agent whenever the authority of a process agent is terminated by reason of revocation, disability, removal from the district, or any other cause.