31 CFR § 223.18 - Revocation.

---
identifier: "/us/cfr/t31/s223.18"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 223.18 - Revocation."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "223.18"
section_name: "Revocation."
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "223"
part_name: "SURETY COMPANIES DOING BUSINESS WITH THE UNITED STATES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 31 U.S.C. 9304-9308."
cfr_part: "223"
---


# 223.18 Revocation.

(a) Treasury may initiate a revocation proceeding against a Treasury-certified company in one of two ways:

(1) Treasury, of its own accord, under § 223.19, may initiate revocation proceedings against the company when it has reason to believe that the company is not complying with 31 U.S.C. 9304-9308 and/or the regulations under this part; or

(2) Treasury, under § 223.20, may initiate revocation proceedings against the company upon receipt of a complaint from an agency that the company has not paid or satisfied one or more administratively final bond obligations due the agency.

(b) A revocation of a company's certificate of authority under § 223.19 or § 223.20 precludes the company from underwriting or reinsuring additional bonds for any agency, and therefore revokes the company's opportunity to have its bonds presented to any agency bond-approving official for acceptance.

[79 FR 62001, Oct. 16, 2014, as amended at 89 FR 48837, June 10, 2024]