§608.840. Refunds.

12 C.F.R. § 608.840

(a)

In instances where the FCA is the creditor agency, it shall promptly refund any amounts deducted under the authority of 5 U.S.C. 5514 when:

(1)

The debt is waived or otherwise found not to be owed to the United States (unless expressly prohibited by statute or regulations); or

(2)

An administrative or judicial order directs the FCA to make a refund.

(b)

Unless required or permitted by law or contract, refunds under this section shall not bear interest.

Notes, amendments, and revision history

Authority: Sec. 5.17 of the Farm Credit Act; 12 U.S.C. 2252; 31 U.S.C. 3701-3719; 5 U.S.C. 5514; 4 CFR parts 101-105; 5 CFR part 550.

Source: 59 FR 13187, Mar. 21, 1994, unless otherwise noted.