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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 19 - Customs Duties |
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Chapter I - U.S. Customs and Border Protection, Department of Homeland Security; Department of the Treasury |
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Part 113 - CBP Bonds |
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Subpart D - Principals and Sureties |
§ 113.31 - Same party as principal and surety; attorney in fact.
Latest version.
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§ 113.31 Same party as principal and surety; attorney in fact.
(a) Same party as principal and surety. The same person, partnership, or corporation cannot be both principal and surety on a bond.
(b) Attorney in fact for principal or surety. In executing a bond, a person may act as:
(1) Attorney in fact for both principal and surety;
(2) Surety and attorney in fact for the principal; or
(3) Principal and attorney in fact for the surety.