---
kind: "section"
citation: "31 C.F.R. § 223.18"
title: "31"
number: "223.18"
heading: "Revocation."
url: "https://uscodex.org/cfr/31/223.18"
---

# §223.18. Revocation.

- (a) Treasury may initiate a revocation proceeding against a Treasury-certified company in one of two ways:
  - (1) Treasury, of its own accord, under [§ 223.19](/cfr/31/223.19.md), may initiate revocation proceedings against the company when it has reason to believe that the company is not complying with [31 U.S.C. 9304-9308](/usc/31/9304-9308.md) and/or the regulations under this part; or
  - (2) Treasury, under [§ 223.20](/cfr/31/223.20.md), may initiate revocation proceedings against the company upon receipt of a complaint from an agency that the company has not paid or satisfied one or more administratively final bond obligations due the agency.
- (b) A revocation of a company's certificate of authority under [§ 223.19](/cfr/31/223.19.md) or [§ 223.20](/cfr/31/223.20.md) precludes the company from underwriting or reinsuring additional bonds for any agency, and therefore revokes the company's opportunity to have its bonds presented to any agency bond-approving official for acceptance.

## Notes

### Amendments

[79 FR 62001, Oct. 16, 2014, as amended at 89 FR 48837, June 10, 2024]

### Authority

Authority: 5 U.S.C. 301; 31 U.S.C. 9304-9308.

### Amendments

[79 FR 62001, Oct. 16, 2014, as amended at 89 FR 48837, June 10, 2024]