31 CFR 370.45
§ 370.45 What is the status of a security if the remittance cannot be collected?
United States · 31 CFR — Money and Finance: Treasury · Status: effective
Cite this
- Citation
- 31 CFR 370.45, § 370.45 What is the status of a security if the remittance cannot be collected?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/140671
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Full text
If we cannot promptly collect all of the remittance for a security, we may in our discretion cancel the security unless it has been legally transferred for value to a third person who had no knowledge of the improper debit entry at the time of the transfer.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.