[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR306.57]

[Page 165-166]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 306_GENERAL REGULATIONS GOVERNING U.S. SECURITIES--Table of Contents
 
          Subpart G_Assignments by or in Behalf of Individuals
 
Sec.  306.57  Minors and incompetents.

    (a) Assignments by natural guardian of securities registered in name 
of minor. Securities registered in the name of a minor for whose estate 
no legal guardian or similar representative has qualified may be 
assigned by the natural guardian upon qualification. (Form PD 2481 may 
be used for this purpose.)

[[Page 166]]

    (b) Assignments of securities registered in name of natural guardian 
of minor. Securities registered in the name of a natural guardian of a 
minor may be assigned by the natural guardian for any authorized 
transaction except one for the apparent benefit of the natural guardian. 
If the natural guardian in whose name the securities are registered is 
deceased or is no longer qualified to act as natural guardian, the 
securities may be assigned by the person then acting as natural 
guardian. The assignment by the new natural guardian should be supported 
by proof of the death or disqualification of the former natural guardian 
and by evidence of his own status as natural guardian. (Form PD 2481 may 
be used for this purpose.) No assignment by a natural guardian will be 
accepted after receipt of notice of the minor's attainment of majority, 
removal of his disability of minority, disqualification of the natural 
guardian to act as such, qualification of a legal guardian or similar 
representative, or the death of the minor.
    (c) Assignments by voluntary guardian of incompetents. Registered 
securities belonging to an incompetent for whose estate no legal 
guardian or similar representative is legally qualified may be assigned 
by the relative responsible for his care and support or some other 
person as voluntary guardian:
    (1) For redemption, if the proceeds of the securities are needed to 
pay expenses already incurred, or to be incurred during any 90-day 
period, for the care and support of the incompetent or his legal 
dependents.
    (2) For redemption-exchange, if the securities are matured or have 
been called, or pursuant to an advance refunding or prerefunding offer, 
for reinvestment in other securities to be registered in the form ``A, 
an incompetent (123-45-6789) under voluntary guardianship.''

An application on Form PD 1461 by the person seeking authority to act as 
voluntary guardian will be required.
    (d) Assignments by legal guardians of minors or incompetents. 
Securities registered in the name and title of the legal guardian or 
similar representative of the estate of a minor or incompetent may be 
assigned by the representative for any authorized transaction without 
proof of his qualification. Assignments by a representative of any other 
securities belonging to a minor or incompetent must be supported by 
properly certified evidence of qualification. The evidence must be dated 
not more than 1 year before the date of the assignments and must contain 
a statement showing the appointment is in full force unless (1) it shows 
the appointment was made not more than 1 year before the date of the 
assignment, or (2) the representative or a corepresentative is a 
corporation. An assignment by the representative will not be accepted 
after receipt of notice of termination of the guardianship, except for 
transfer to the former ward.

[38 FR 7078, Mar. 15, 1973, as amended at 64 FR 38126, July 15, 1999]