[Title 21 CFR 1316.98]
[Code of Federal Regulations (annual edition) - April 1, 1996 Edition]
[Title 21 - FOOD AND DRUGS]
[Chapter II - DRUG ENFORCEMENT]
[Parts 1314-1315 - [RESERVED]]
[Sec. 6079, - 6080.]
[Sec. 1316.98 - Substitute res bond in a judicial forfeiture action against a conveyance.]
[From the U.S. Government Publishing Office]




  21
  FOOD AND DRUGS
  9
  1996-04-01
  1996-04-01
  false
  
  1316.98
  Sec. 1316.98
  
    FOOD AND DRUGS
    DRUG ENFORCEMENT
    [RESERVED]
    6080.
  


Sec. 1316.98  Substitute res bond in a judicial forfeiture action against a conveyance.

    (a) Where a conveyance is being forfeited in a judicial proceeding 
for a drug-related offense, the owner may obtain release of the property 
by filing a substitute res bond with the seizing agency. The conveyance 
will be released to the owner upon the payment of a bond in the amount 
of the appraised value of the conveyance if it is not evidence of a 
violation of law or has design or other characteristics that 
particularly suit it for use in illegal activities. This bond must be in 
the form of a traveler's check, a money order, a cashier's check or an 
irrevocable letter of credit made payable to the Department of Justice 
or to the United States Customs Service depending on which agency seized 
the conveyance. A bond in the form of a cashier's check will be 
considered as paid once the check has

[[Page 261]]

been accepted for payment by the financial institution which issued the 
check.
    (b) If a substitute res bond is filed and the conveyance is 
judicially forfeited, the court will forfeit the bond in lieu of the 
property.