31 CFR § 370.45 - What is the status of a security if the remittance cannot be collected?

---
identifier: "/us/cfr/t31/s370.45"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 370.45 - What is the status of a security if the remittance cannot be collected?"
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "370.45"
section_name: "What is the status of a security if the remittance cannot be collected?"
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "370"
part_name: "ELECTRONIC TRANSACTIONS AND FUNDS TRANSFERS RELATING TO UNITED STATES SECURITIES"
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. 391; 31 U.S.C. chapter 31."
regulatory_source: "64 FR 40487, July 26, 1999, unless otherwise noted."
cfr_part: "370"
---


# 370.45 What is the status of a security if the remittance cannot be collected?

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.