[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR204.8]

[Page 205-206]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 204--RULES RELATING TO DEBT COLLECTION--Table of Contents
 
                    Subpart A--Administrative Offset
 
Sec. 204.8  Written agreement for repayment.

    If the debtor requests a repayment agreement in place of offset, the 
Commission has discretion and should use sound judgment to determine 
whether to accept a repayment agreement in place of offset. If the debt 
is delinquent and the debtor has not disputed its existence or amount, 
the Commission will not accept a repayment agreement in place of offset 
unless the debtor is able to establish that offset would cause undue 
financial hardship or be unjust. No repayment arrangement will be 
considered unless the debtor submits a financial statement, executed 
under penalty of perjury, reflecting the debtor's assets, liabilities, 
income, and expenses. The financial statement must be submitted within

[[Page 206]]

ten business days of the Commission's request for the statement. At the 
Commission's option, a confess-judgment note or bond of indemnity with 
surety may be required for installment agreements. Notwithstanding the 
provisions of this section, any reduction or compromise of a claim will 
be governed by 4 CFR part 103 and 31 CFR 5.3.