[Code of Federal Regulations]

[Title 31, Volume 2]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR342.5]



[Page 268]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY

 

PART 342_OFFERING OF UNITED STATES SAVINGS NOTES--Table of Contents

 

Sec.  342.5  Limitations.



    (a) Purchases--(1) Payroll savings plans. Under a payroll savings 

plan, withholdings for notes could not exceed the ratio of $1.08 for the 

notes to $1 for the Series E bonds and could not exceed $20.25 per 

weekly pay period, or $40.50 per biweekly or semi-monthly pay period, or 

$81 per monthly pay period.

    (2) Others. In combination purchases of notes and Series E bonds, 

other than under a payroll savings plan, purchases of notes could not 

exceed $350 (face amount) a quarter, and in no event could the annual 

limitation of $1,350 (face amount) be exceeded.

    (b) Holdings. The face amount of savings notes originally issued to 

any one person during any one calendar year, was limited to $1,350.