31 CFR § 203.7 - Termination of agreement or change of election or option.

---
identifier: "/us/cfr/t31/s203.7"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 203.7 - Termination of agreement or change of election or option."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "203.7"
section_name: "Termination of agreement or change of election or option."
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "203"
part_name: "PAYMENT OF FEDERAL TAXES AND THE TREASURY TAX AND LOAN PROGRAM"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 90,265-266, 332, 391, 1452(d), 1464(k), 1767, 1789a, 2013, 2122, and 3102; 26 U.S.C. 6302; 31 U.S.C. 321, 323, and 3301-3304."
regulatory_source: "72 FR 59181, Oct. 19, 2007, unless otherwise noted."
cfr_part: "203"
---


# 203.7 Termination of agreement or change of election or option.

(a) *Termination by Treasury.* The Secretary may terminate the agreement of a TT&L depositary at any time upon notice to that effect to that depositary, effective on the date set forth in the notice.

(b) *Termination or change of election or option by the depositary.* A TT&L depositary may terminate its depositary agreement, or change its option or election, consistent with this part and the procedural instructions, by prior written notice to the TSC.