31 CFR 342.7
§ 342.7 Payment or redemption.
United States · 31 CFR — Money and Finance: Treasury · Status: effective
Cite this
- Citation
- 31 CFR 342.7, § 342.7 Payment or redemption, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/139998
- Permanent ID
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Full text
(a) General. A savings note is redeemable any time one year or more after the issue date upon its presentation 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 Fiscal Service, 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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.