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United States · Bill · HR

H.R. 3534 (112th)

Security in Bonding Act of 2012

referredUnited States· United States Congress· EN

Introduced

1 December 2011

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Security in Bonding Act of 2011 - Revises requirements related to assets pledged by a surety. Reverses the current prohibition to authorize the government official who approves or accepts the surety bond to require that it be given through a guaranty corporation, including a particular guaranty corporation. Declares that if another applicable law or regulation permits the acceptance of a bond from a surety that is not subject to specified federal law, and is based on a pledge of assets by the surety, the assets pledged by such surety shall: (1) consist of eligible obligations given as security instead of surety bonds; and (2) be submitted to the government official required to approve or accept the bond, who shall deposit the assets with a depository (the Secretary of the Treasury, a federal reserve bank, or a depository designated by the Secretary).

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Documents

11 official files

Referred in Senate (text)

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