[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR363.47]

[Page 492]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 363_REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT--Table 
of Contents
 
Subpart B_General Provisions Governing Securities Held in TreasuryDirect
 
Sec.  363.47  Will Public Debt pay Treasury securities pursuant to a 
forfeiture proceeding?

    (a) General. We will honor a judicial or administrative forfeiture 
order or declaration of forfeiture submitted by a federal agency. We 
will rely exclusively upon the information provided by the Federal 
forfeiting agency and will not make any independent evaluation of the 
validity of the forfeiture order, the request for payment, or the 
authority of the individual signing the transaction request. The amount 
to be paid or transferred is limited to the value of the security as of 
the date of forfeiture.
    (b) Definition of special terms relating to forfeitures.
    Contact point means the individual designated by the Federal 
investigative agency, United States Attorney's Office, or forfeiting 
agency, to receive referrals from Public Debt.
    Forfeiting agency means the federal law enforcement agency 
responsible for the forfeiture.
    Forfeiture means the process by which property may be forfeited by a 
federal agency. Administrative forfeiture is forfeiture by a federal 
agency without judicial proceedings resulting in a declaration of 
forfeiture; judicial forfeiture is a forfeiture through either a civil 
or criminal proceeding in a United States District Court resulting in a 
final judgment and order of forfeiture.
    (c) Procedures for a forfeiting agency to request forfeiture of 
Treasury securities. A forfeiting agency must request forfeiture. An 
individual authorized by the forfeiting agency must sign the transaction 
request. The request must be mailed to the Department of the Treasury, 
Bureau of the Public Debt, Parkersburg, WV 26106-7015.
    (d) Public Debt procedures upon receipt of forfeiture request. Upon 
receipt and review of the transaction request, we will make payment to 
the forfeiture fund specified, if the security is eligible for payment, 
or we will transfer the security pursuant to the transaction request. We 
will record the forfeiture, the forfeiture fund into which the proceeds 
were paid or the security transfer records, the contact point, and any 
related information.
    (e) Inquiries from previous owner. All inquiries or claims from the 
previous owner will be referred to the contact point of the forfeiting 
agency. We will tell the person who inquired that we referred his or her 
inquiry to the contact point. We will not investigate the inquiry. We 
will defer to the forfeiting agency's determination of the appropriate 
course of action, including settlement where appropriate. Any settlement 
will be paid from the forfeiture fund into which the proceeds were 
deposited.

[70 FR 57436, Sept. 30, 2005]

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