[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR312.4]

[Page 164]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 312--FEDERAL SAVINGS AND LOAN ASSOCIATIONS AND FEDERAL CREDIT UNIONS AS FISCAL AGENTS OF THE UNITED STATES--Table of Contents
 
Sec. 312.4  Bond of indemnity.

    No Federal savings and loan association or Federal credit union 
which may have been designated for employment mentioned in this part 
shall perform, or make any effort to perform any of the acts included in 
such employment, or advertise in any manner that it is authorized to 
perform such acts until it has qualified by the execution of, delivery 
to, and approval of a bond of indemnity in favor of the United States 
with satisfactory surety, or with the pledge of collateral security as 
provided in part 225 of this chapter, conditioned upon the faithful 
performance of the obligor's duties as fiscal agent of the United States 
in the principal amount of $1,000 and until the Federal Home Loan Bank 
Board or the Bureau of Federal Credit Unions, Department of Health, 
Education, and Welfare, respectively, shall have certified to the 
Secretary of the Treasury that such association or credit union is in 
good standing and is eligible, under the terms and conditions prescribed 
by the Secretary, to qualify for the performance of the designated acts. 
The Federal Home Loan Bank Board and the Bureau of Credit Unions, 
respectively, shall keep the Secretary of the Treasury currently advised 
of the changes in the lists of associations and credit unions which are 
eligible, under the aforesaid terms and conditions, to qualify for the 
performance of the designated acts.

[32 FR 3447, Mar. 2, 1967]