[Code of Federal Regulations]

[Title 19, Volume 1]

[Revised as of April 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 19CFR113.33]



[Page 543-544]

 

                        TITLE 19--CUSTOMS DUTIES

 

   CHAPTER I--BUREAU OF CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF 

              HOMELAND SECURITY; DEPARTMENT OF THE TREASURY

 

PART 113_CUSTOMS BONDS--Table of Contents

 

                    Subpart D_Principals and Sureties

 

Sec.  113.33  Corporations as principals.



    (a) Name of corporation on the bonds. The name of a corporation 

executing a Customs bond as a principal, may be printed or placed 

thereon by means of



[[Page 544]]



a rubber stamp or otherwise, followed by the written signature of the 

authorized officer or attorney.

    (b) Signature and seal of the corporation on the bond. The bond of a 

corporate principal shall be signed by an authorized officer or attorney 

of the corporation and the corporate seal shall be affixed immediately 

adjoining the signature of the person executing the bond, as provided 

for in Sec.  113.25.

    (c) Bond executed by an officer of corporation. When a bond is 

executed by an officer of a corporation, a power of attorney shall not 

be required if the person signing the bond on behalf of the corporation 

is known to the port director or drawback office to be the president, 

vice president, treasurer, or secretary of the corporation. The 

officer's signature shall be prima facie evidence of that officer's 

authority to bind the corporation. When a power of attorney is required 

it shall conform to the requirements of subpart C, part 141, of this 

chapter.

    (d) Bond executed by an attorney in fact. When an attorney in fact 

executes a bond on behalf of a corporate principal and a power of 

attorney has not been filed with the port director (unless exempted from 

filing by Sec.  141.46 of this chapter), there shall be attached a power 

of attorney executed by an officer of the corporation whose authority to 

execute the power shall be shown as prescribed in paragraph (c) of this 

section.

    (e) Subsidiaries as co-principals. The provisions of this section 

shall be applicable to each corporate subsidiary which joins its parent 

corporation by signing the bond as co-principal.