§9301. Definitions — Inbound Citations
31 U.S.C. § 9301
Cited by 23 provisions in release 119-102.
Citations to §9301(1)
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(3) Upon completion of the audit required by this subsection, the person who audits the statement shall submit a report on the audit to the head of the Government corporation, to the Chairman of the Committee on Government Operations of the House of Representatives, and to the Chairman of the Committee on Governmental Affairs of the Senate.
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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.
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(3) authorize the official receiving the obligation to collect or sell the obligation if the person defaults on a required condition.
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(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, 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; 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.
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(a) When a law of the United States Government requires or permits a person to give a surety bond through a surety, the person satisfies the law if the surety bond is provided for the person by a corporation—(1) incorporated under the laws of—(A) the United States; or(B) a State, the District of Columbia, or a territory or possession of the United States;(2) that may under those laws guarantee—(A) the fidelity of persons holding positions of trust; and(B) bonds and undertakings in judicial proceedings; and
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(A) the fidelity of persons holding positions of trust; and
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(3) may require additional security from the person required to provide a surety bond if the Secretary decides that a surety corporation no longer is sufficient security.
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(D) in which the person required to provide a surety bond resided when the bond was provided.
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When a person required to provide a surety bond given to the United States Government is insolvent or dies having assets insufficient to pay debts, the surety, or the executor, administrator, or assignee of the surety paying the Government the amount due under the bond—
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(1) has the same priority to amounts from the assets and estate of the person as are secured for the Government; and
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(a) It is the sense of Congress that each service or thing of value provided by an agency (except a mixed-ownership Government corporation) to a person (except a person on official business of the United States Government) is to be self-sustaining to the extent possible.
Citations to §9301(2)
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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.
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(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.
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(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.
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(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, 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; 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.
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(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; and
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(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.
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(1) priority of a claim of the Government against an eligible obligation given under this section;
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(3) authority of a court over an eligible obligation given as security in a civil action; and
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(4) authority of an official of the Government authorized by another law to receive an eligible obligation as security.
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(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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(1) consist of eligible obligations described under section 9303(a); and