31 CFR 321.15

§ 321.15 Liability for losses.

United States · 31 CFR — Money and Finance: Treasury · Status: effective

Cite this

Citation: 31 CFR 321.15, § 321.15 Liability for losses, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/139882
Permanent ID: ys:prov:139882@1
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Full text

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.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.