[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: 31CFR342.7]



[Page 268-269]

 

                  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.  342.7  Payment or redemption.



    (a) General. A savings note is redeemable any time one year or more 

after the issue date upon its presentation



[[Page 269]]



and surrender, with a duly executed request for payment, to any Federal 

Reserve Bank or Branch referred to in 342.9, the Bureau of the Public 

Debt, or to any financial institution designated as a paying agent of 

savings bonds.

    (b) Judgment creditors. Payment of a savings note to the purchaser 

at a sale under a levy, or to the officer authorized to levy upon the 

property of the owner under appropriate process to satisfy a money 

judgment, could not be made until one year after the issue date of the 

note.



[57 FR 14282, Apr. 17, 1992, as amended at 59 FR 10540, Mar. 4, 1994]