Title 31, Money and FinanceRelease 119-102
§3127 Credit to Officers, Employees, and Agents for Stolen Treasury Notes
Title 31 › SUBTITLE III — FINANCIAL MANAGEMENT › CHAPTER 31 — PUBLIC DEBT › SUBCHAPTER II — ADMINISTRATIVE › § 3127
Summary
The Secretary of the Treasury may give credit to a U.S. officer, employee, or agent who is allowed to handle Treasury notes when that person accepts or pays a note that had been stolen and later put into circulation after another authorized person had handled it. The credit is allowed only if the Secretary finds the person acted honestly and used ordinary care.
Full Legal Text
Title 31, §3127
Money and Finance, Source: USLM XML via OLRC
When an officer, employee, or agent of the United States Government authorized to receive, redeem, or cancel Treasury notes receives or pays a note that was stolen and put in circulation after it had been received or redeemed by an officer, employee, or agent authorized to receive or redeem the note, the Secretary of the Treasury may allow the officer, employee, or agent receiving or paying the stolen note a credit for the amount of the note. The Secretary may allow the credit only if the Secretary is satisfied that the note was received or paid in good faith and in exercising ordinary prudence.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 312731:740.R.S. § 3707. The word “employee” is added for consistency with other titles of the United States Code. The words “of the United States Government” are added for clarity and consistency. The word “duly” is omitted as surplus. The words “issued by authority of law” are omitted as unnecessary. The words “which has subsequently thereto” are omitted as unnecessary. The words “is satisfied” are substituted for “upon full and satisfactory proof” to eliminate unnecessary words.
Reference
Citations & Metadata
Citation
31 U.S.C. § 3127
Title 31, Money and Finance
Last Updated
Aug 21, 2026
Release point: 119-102