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31 U.S.C. § 9303 — Use of eligible obligations instead of surety bonds

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 9303 — Use of eligible obligations instead of surety bonds

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Stable record: federal_law:legal_authorities:record_usc_02382b5209a055010dea505f
Source file: Laws/federal/codes/united-states-code/title-31/section-9303-use-of-eligible-obligations-instead-of-surety-bonds--aafa41ebf5.md
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Source location: Title 31, Chapter 93, § 9303; chapter-093-sureties-and-surety-bonds.md

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**(a)** If a person is required under a law of the United States to give a surety bond, the person may give an eligible obligation as security instead of a surety bond. The obligation shall— (1) be given to the official having authority to approve the surety bond; (2) as determined by the Secretary of the Treasury, have a market value that is equal to or greater than the amount of the required surety bond; and (3) authorize the official receiving the obligation to collect or sell the obligation if the person defaults on a required condition. **(b)** (1) An official receiving an eligible obligation under subsection (a) of this section may deposit it with— (A) the Secretary of the Treasury; (B) a Federal reserve bank; or (C) a depositary designated by the Secretary. (2) The Secretary, bank, or depositary shall issue a receipt that describes the obligation deposited. **(c)** Using an eligible obligation instead of a surety bond for security is the same as using— (1) a personal or corporate surety bond; (2) a certified check; (3) a bank draft; (4) a post office money order; or (5) cash. **(d)** When security is no longer required, an eligible obligation given instead of a surety bond shall be returned to the person giving the obligation. If a person, supplying labor or material to a contractor defaulting under sections 3131 and 3133 of title 40, files with the United States Government the application and affidavit provided under [section 3133(a) of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section3133/a&num=0&edition=prelim), the Government— (1) may return to the contractor the eligible obligation given as security (or proceeds of the eligible obligation given) under sections 3131 and 3133 of title 40 only after the 90-day period for bringing a civil action under [section 3133(b) of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section3133/b&num=0&edition=prelim); and (2) if a civil action is brought in the 90-day period, shall hold the eligible obligation or the proceeds subject to the order of the court having jurisdiction of the action. **(e)** This section does not affect the— (1) priority of a claim of the Government against an eligible obligation given under this section; (2) right or remedy of the Government for default on an obligation provided under— (A) sections 3131 and 3133 of title 40; or (B) this section; (3) authority of a court over an eligible obligation given as security in a civil action; and (4) authority of an official of the Government authorized by another law to receive an eligible obligation as security. **(f)** To avoid frequent substitution of eligible obligations, the Secretary may prescribe regulations limiting the effect of this section to an eligible obligation maturing more than one year after the date the obligation is given as security.

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 5334 — Rate on change of position or type of appointment; regulations

**(a)** The rate of basic pay to which an employee is entitled is governed by regulations prescribed by the Office of Personnel Management in conformity with this subchapter and chapter 51 of this title when— (1) he is transferred from a position in the legislative, judicial, or executive branch to which this subchapter does not apply; (2) he is transferred from a position in the legislative, judicial, or executive branch to which this subchapter applies to another such position; (3) he is demoted to a position in a lower grade; (4) he is reinstated, reappointed, or reemployed in a position to which this subchapter applies following service in any position in the legislative, judicial, or executive branch; (5) his type of appointment is changed; (6) his employment status is otherwise changed; or (7) his position is changed from one grade to another grade. For the purpose of this subsection, an individual employed by the Appalachian Regional Commission under [section 14306(a)(2) of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section14306/a/2&num=0&edition=prelim), who was a Federal employee immediately prior to such employment by a commission and within 6 months after separation from such employment is employed in a position to which this subchapter applies, shall be treated as if transferred from a position in the executive branch to which this subchapter does not apply. **(b)** An employee who is promoted or transferred to a position in a higher grade is entitled to basic pay at the lowest rate of the higher grade which exceeds his existing rate of basic pay by not less than two step-increases of the grade from which he is promoted or transferred. If, in the case of an employee so promoted or transferred who is receiving basic

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 345 — Money of estates

**(a)** A trustee in a case under this title may make such deposit or investment of the money of the estate for which such trustee serves as will yield the maximum reasonable net return on such money, taking into account the safety of such deposit or investment. **(b)** Except with respect to a deposit or investment that is insured or guaranteed by the United States or by a department, agency, or instrumentality of the United States or backed by the full faith and credit of the United States, the trustee shall require from an entity with which such money is deposited or invested— (1) a bond— (A) in favor of the United States; (B) secured by the undertaking of a corporate surety approved by the United States trustee for the district in which the case is pending; and (C) conditioned on— (i) a proper accounting for all money so deposited or invested and for any return on such money; (ii) prompt repayment of such money and return; and (iii) faithful performance of duties as a depository; or (2) the deposit of securities of the kind specified in [section 9303 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section9303&num=0&edition=prelim); unless the court for cause orders otherwise. **(c)** An entity with which such moneys are deposited or invested is authorized to deposit or invest such moneys as may be required under this section.

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 345

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 5177 — Other provisions relating to bonds

**(a) General provisions relating to bonds** The provisions of section 5551 shall be applicable to the bonds required by or given under sections 5173 and 5175. **(b) Cross references** (1) For deposit of United States bonds or notes in lieu of sureties, see [section 9303 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section9303&num=0&edition=prelim), United States Code. (2) For penalty and forfeiture for failure or refusal to give bond, or for giving false, forged, or fraudulent bond, or carrying on the business of a distiller without giving bond, see sections 5601(a)(4), 5601(a)(5), 5601(b), and 5615(3).

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 5177

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 5403 — Cross references

(1) For authority of Secretary to disapprove brewers’ bonds, see section 5551. (2) For authority of Secretary to require the installation and use of meters, tanks, and other apparatus, see section 5552. (3) For deposit of United States bonds or notes in lieu of sureties, see [section 9303 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section9303&num=0&edition=prelim), United States Code.

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 5403

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 7101 — Form of bonds

Whenever, pursuant to the provisions of this title (other than section 7485), or rules or regulations prescribed under authority of this title, a person is required to furnish a bond or security— (1) **General rule** — Such bond or security shall be in such form and with such surety or sureties as may be prescribed by regulations issued by the Secretary. (2) **United States bonds and notes in lieu of surety bonds** — The person required to furnish such bond or security may, in lieu thereof, deposit bonds or notes of the United States as provided in [section 9303 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section9303&num=0&edition=prelim), United States Code.

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 7101

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 7485 — Bond to stay assessment and collection

**(a) Upon notice of appeal** Notwithstanding any provision of law imposing restrictions on the assessment and collection of deficiencies, the review under section 7483 shall not operate as a stay of assessment or collection of any portion of the amount of the deficiency determined by the Tax Court unless a notice of appeal in respect of such portion is duly filed by the taxpayer, and then only if the taxpayer— (1) on or before the time his notice of appeal is filed has filed with the Tax Court a bond in a sum fixed by the Tax Court not exceeding double the amount of the portion of the deficiency in respect of which the notice of appeal is filed, and with surety approved by the Tax Court, conditioned upon the payment of the deficiency as finally determined, together with any interest, additional amounts, or additions to the tax provided for by law, or (2) has filed a jeopardy bond under the income or estate tax laws. If as a result of a waiver of the restrictions on the assessment and collection of a deficiency any part of the amount determined by the Tax Court is paid after the filing of the appeal bond, such bond shall, at the request of the taxpayer, be proportionately reduced. **(b) Bond in case of appeal of certain partnership-related decisions** The condition of subsection (a) shall be satisfied if the partnership duly files notice of appeal from a decision under section 6234 and on or before the time the notice of appeal is filed with the Tax Court, a bond in an amount fixed by the Tax Court is filed, and with surety approved by the Tax Court, conditioned upon the payment of deficiencies attributable to the partnership-related items (as defined in section 6241) to which that decision relates as finally determined, together with any interest, penalties, additio

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 7485

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 9303 — Use of eligible obligations instead of sur-

Page 582 TITLE 31—MONEY AND FINANCE § 9303 connection with the performance of their official du- ties’’ to eliminate unnecessary words and because of the restatement. The words ‘‘to the Federal Govern- ment’’ are omitted as surplus. The words ‘‘member, of- ficer, or employee’’ are substituted for ‘‘employees and personnel’’ because of the restatement. § 9303. Use of eligible obligations instead of sur- ety bonds (a) If a person is required under a law of the United States to give a surety bond, the person may give an eligible obligation as security in- stead of a surety bond. The obligation shall— (1) be given to the official having authority to approve the surety bond; (2) as determined by the Secretary of the Treasury, have a market value that is equal to or greater than the amount of the required surety bond; and (3) authorize the official receiving the obli- gation to collect or sell the obligation if the person defaults on a required condition. (b)(1) An official receiving an eligible obliga- tion under subsection (a) of this section may de- posit it with— (A) the Secretary of the Treasury; (B) a Federal reserve bank; or (C) a depositary designated by the Sec- retary. (2) The Secretary, bank, or depositary shall issue a receipt that describes the obligation de- posited. (c) Using an eligible obligation instead of a surety bond for security is the same as using— (1) a personal or corporate surety bond; (2) a certified check; (3) a bank draft; (4) a post office money order; or (5) cash. (d) When security is no longer required, an eli- gible obligation given instead of a surety bond shall be returned to the person giving the obli- gation. If a person, supplying labor or material to a contractor defaulting under sections 3131 and 3133 of title

Source: Supplied 2024 U.S. Code historical extraction · 31 U.S.C. § 9303

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