31 C.F.R. § 223.19

Current through October 31, 2024
Section 223.19 - Treasury-initiated revocation proceedings

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 responded, was provided an opportunity to demonstrate or achieve compliance, and failed to do so.

31 C.F.R. §223.19

79 FR 62001 , Oct. 16, 2014
89 FR 48837 , 8/9/2024