12 C.F.R. · Banks and Banking
12 C.F.R. § 608.820

Applicability.

Title 12 C.F.R. ● ACTIVE Primary Source
Regulatory Text

12 C.F.R. § 608.820 — Applicability.

§ 608.820 Applicability. (a) The provisions of this subpart shall apply to the collection of debts by administrative [or salary] offset under 31 U.S.C. 3716, 5 U.S.C. 5514, or other statutory or common law. (b) Offset shall not be used to collect a debt more than 10 years after the Government's right to collect the debt first accrued, unless facts material to the Government's right to collect the debt were not known and could not reasonably have been known by the official or officials of the Government who were charged with the responsibility of discovering and collecting such debt. (c) Offset shall not be used with respect to: (1) Debts owed by other agencies of the United States or by any State or local government; (2) Debts arising under or payments made under the Social Security Act, the Internal Revenue Code of 1986, as amended, or tariff laws of the United States; or (3) Any case in which collection by offset of the type of debt involved is explicitly provided for or prohibited by another statute. (d) Unless otherwise provided by contract or law, debts or payments which are not subject to offset under 31 U.S.C. 3716 or 5 U.S.C. 5514 may be collected by offset if such collection is authorized under common law or other applicable statutory authority.

Source: ecfr.gov · govinfo.gov — public domain Official Source ↗
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12 C.F.R. § 608.820
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The regulatory text of 12 C.F.R. § 608.820 is reproduced from the official Code of Federal Regulations as published by the Office of the Federal Register and the National Archives and Records Administration.
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