---
kind: "section"
citation: "31 C.F.R. § 223.19"
title: "31"
number: "223.19"
heading: "Treasury-initiated revocation proceedings."
url: "https://uscodex.org/cfr/31/223.19"
---

# §223.19. Treasury-initiated revocation proceedings.


Whenever Treasury has reason to believe that a company is not complying with the requirements of [31 U.S.C. 9304-9308](/usc/31/9304-9308.md) and/or the regulations under this part, including but not limited to a failure to satisfy corporate and financial standards, Treasury shall:

- (a) Notify the company of the facts or conduct which indicate such non-compliance, and provide the company an opportunity to respond, and
- (b) **Revoke a company's certificate of authority after providing notice to the company if—**
  - (1) The company does not respond satisfactorily to Treasury's notification of non-compliance, or
  - (2) The company responded, was provided an opportunity to demonstrate or achieve compliance, and failed to do so.

## 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]