---
kind: "section"
citation: "31 C.F.R. § 321.5"
title: "31"
number: "321.5"
heading: "Termination of qualification."
url: "https://uscodex.org/cfr/31/321.5"
---

# §321.5. Termination of qualification.

- (a) **By the Treasury.** The Secretary of the Treasury, or a designee, may authorize a TRS Site to terminate the qualification of any paying agent at any time, following prior written notice of such action to the agent.
- (b) **At request of paying agent.** A TRS Site will terminate the qualification of a paying agent upon its written request, provided the agent renders a final accounting for all redeemed securities and is found to have fully complied with the terms of its agreement and the applicable regulations and instructions.
- (c) **Reservation.** Termination of the qualification as paying agent of any institution shall not prejudice the right of the Treasury to recover the amounts of any erroneous payment(s) made by the institution.

## Notes

### Amendments

[53 FR 37511, Sept. 26, 1988, as amended at 59 FR 10537, Mar. 4, 1994; 77 FR 16166, Mar. 20, 2012]

### Authority

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 321; 31 U.S.C. 3105, 3126.

### Source

Source: 53 FR 37511, Sept. 26, 1988, unless otherwise noted.

### Amendments

[53 FR 37511, Sept. 26, 1988, as amended at 59 FR 10537, Mar. 4, 1994; 77 FR 16166, Mar. 20, 2012]