31 CFR § 223.19 - Treasury-initiated revocation proceedings.

---
identifier: "/us/cfr/t31/s223.19"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 223.19 - Treasury-initiated revocation proceedings."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "223.19"
section_name: "Treasury-initiated revocation proceedings."
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"
---


# 223.19 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.

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