31 CFR 315.16

§ 315.16 Pledge.

United States · 31 CFR — Money and Finance: Treasury · Status: effective

Cite this

Citation: 31 CFR 315.16, § 315.16 Pledge, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/139775
Permanent ID: ys:prov:139775@1
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Full text

(a) General. A savings bond may not be hypothecated, pledged, or used as security for the performance of an obligation, except as provided in paragraph (b) of this section. (b) Pledge under Treasury Circular No. 154. A bond may be pledged by the registered owner in lieu of surety under the provisions of Department of the Treasury Circular No. 154, current revision (31 CFR part 225), if the bond approving officer is the Secretary of the Treasury. In this case, an irrevocable power of attorney shall be executed authorizing the Secretary of the Treasury to request payment.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.