[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3534 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 3534

 To amend title 31, United States Code, to revise requirements related 
         to assets pledged by a surety, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 1, 2011

Mr. Hanna (for himself and Mr. Mulvaney) introduced the following bill; 
          which was referred to the Committee on the Judiciary

_______________________________________________________________________

                                 A BILL


 
 To amend title 31, United States Code, to revise requirements related 
         to assets pledged by a surety, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Security in Bonding Act of 2011''.

SEC. 2. SURETY BOND REQUIREMENTS.

    Chapter 93 of subtitle VI of title 31, United States Code, is 
amended--
            (1) in section 9304(b)--
                    (A) by striking ``may not require'' and inserting 
                ``may require''; and
                    (B) by striking ``or through'' and inserting ``, 
                but not through'';
            (2) by adding at the end the following:
``Sec. 9310. Individual sureties
    ``If another applicable law or regulation permits the acceptance of 
a bond from a surety that is not subject to sections 9305 and 9306 and 
is based on a pledge of assets by the surety, the assets pledged by 
such surety shall--
            ``(1) consist of eligible obligations described under 
        section 9303(a); and
            ``(2) be submitted to the official of the Government 
        required to approve or accept the bond, who shall deposit the 
        assets with a depository described under section 9303(b).''; 
        and
            (3) in the table of contents for such chapter, by adding at 
        the end the following:

``9310. Individual sureties.''.
                                 <all>