86 STAT. ]
PUBLIC LAW 92-310-JUNE 6, 1972
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Public Law 92-310 AN ACT
June 6, 1972 TH R 1315 01
To provide that the Federal Government shall assume the risks of its fidelity losses, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
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Federal personnel surety b o n d s. Elimination,
TITLE I—ELIMINATION OF SUEETY BONDS FOR FEDERAL CIVILIAN AND MILITARY PERSONNEL E L I M I N A T I O N OF F J ^ D E R A L P E R S O N N E L SURETY BONDS
SEC. 101. (a) No agency of the Federal Government may require or obtain surety bonds for its civilian employees or military personnel in connection with the performance of their official duties. (b) The personal financial liability to the Federal Government of such employees and personnel shall not be affected by reason of subsection (a) of this section. (c) For the purposes of this title, the term "agency of the Federal -"^^""^^ °^ * "
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Federal Govern-
Government" means any agency, department, or other entity of the ment." legislative, executive, or judicial branch of the Government of the United States, and includes each entity listed as a "wholly owned Government corporation" in section 101 of the Government Corporation Control Act (31 U.S.C 846). 83'staS?82s!" RESTORATIONS A N D ADJUSTMENTS OF ACCOUNTS OF ACCOUNTABLE OFFICERS AND AGENTS FOR LOSSES TO THE UNITED STATES
SEC. 102. (a) Whenever— (1) it is necessary to restore or otherwise adjust the account of any accountable officer or his agent for any loss to the United States due to the fault or negligence of such officer or agent, and (2) the head of the agency of the Federal Government concerned determines that the amount of the loss is uncollectable,, such amount shall be charged to the appropriation or fund available for the expenses of the accountable function at the time the restoration or adjustment is made. Such restoration or adjustment shall not affect the personal financial liability of such officer or agent on account of such loss. (b) The restorations and adjustments provided for by subsection (a) of this section shall be made in accordance with regulations which the Comptroller General of the United States shall prescribe and issue. REPORTS OF SECRETARY OF THE TREASURY
SEC. 103. (a) For each of the first five full fiscal years following the date of enactment of this Act, the Secretary of the Treasury shall transmit to the Congress, on or before the 31st day of December first following the close of such fiscal year, a report of the experience of agencies of the executive branch under this Act in such form as may be necessary to enable the Congress to determine the results of operations under this Act. (b) Each agency of the executive branch shall furnish to the Secretary of the Treasury such information as the Secretary may require to carry out the purposes of subsection (a) of this section.
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