§3127 — Title 31 Money and Finance | U.S. Code

Summary

The Secretary of the Treasury can give a credit to a federal officer, employee, or agent who accepted or paid a stolen Treasury note that had already been received or redeemed earlier by another authorized person. The Secretary will only approve the credit if they believe the person acted honestly and used reasonable care when they took or paid the note.

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.

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.

§3127 Credit to Officers, Employees, and Agents for Stolen Treasury Notes

Summary

Title 31, §3127

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata