C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 321—PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF DEFINITIVE UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES) › Subpart E—Losses Resulting From Erroneous Payments

31 C.F.R. § 321.18

Determination of loss

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Upon completion of the investigation, and after consideration of the results, the Bureau of the Fiscal Service shall advise the agent through which the payment occurred:

(a) That no final loss to the United States has occurred, and, accordingly, that the agent is relieved from liability for the payment, or that no claim for reimbursement shall be made unless and until a loss has been sustained; or

(b) That while a final loss to the United States has occurred, the agent is not required to make reimbursement therefor, as the Secretary of the Treasury, or his designee, has determined that such loss resulted from no fault or negligence on the part of such agent; or

(c) That a final loss to the United States has occurred, and that, the Secretary of the Treasury, or his designee, has been unable to make an affirmative finding that such loss resulted from no fault or negligence on the part of such agent, reimbursement must be made promptly, except where credit for the payment had not previously been extended.

Notes of Decisions
Cited in 1 case, 1973–1973 · leading case: Wolak v. United States, 366 F. Supp. 1106 (D. Conn. 1973).
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Wolak v. United States, 366 F. Supp. 1106 (D. Conn. 1973). “The Memorandum of Instructions issued to paying agents, see 31 C.F.R. § 321.18 , states that its purpose “is to provide (a) information to supplement the regulations contained in the circular, and (b) specific instructions for processing redemption and redemption-exchange…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.