DODD 7000.14-R VOL 7B CHAP 32
RECOVERY OF PAYMENTS MADE TO A FINANCIAL ORGANIZATION
active, Most Current
| Organization: | DODD |
| Publication Date: | 1 January 2012 |
| Status: | active |
| Page Count: | 5 |
scope:
General
By accepting a recurring benefit payment from the government, a receiving financial institution agrees to the provisions of Title 31 of the Code of Federal Regulations (CFR) Part 210, including the reclamation actions and debiting of the financial institution's Federal Reserve Bank account for any reclamation for which it is liable.
A. A financial institution is liable for all benefit payments received after the death or legal incapacity of a recipient or death of a beneficiary unless the financial institution meets the qualifications for limiting its liability under paragraph 320103.
B. The government's right to reclaim funds is established in 31 CFR 210, Subpart B, Section 210.10(a).
Document History
DODD 7000.14-R VOL 7B CHAP 32
January 1, 2012
RECOVERY OF PAYMENTS MADE TO A FINANCIAL ORGANIZATION
General
By accepting a recurring benefit payment from the government, a receiving financial institution agrees to the provisions of Title 31 of the Code of Federal Regulations (CFR) Part 210,...