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Electronic Code of Federal Regulations

e-CFR data is current as of February 20, 2020

Title 31Subtitle BChapter IISubchapter APart 342 → §342.7


Title 31: Money and Finance: Treasury
PART 342—OFFERING OF UNITED STATES SAVINGS NOTES


§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 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.

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

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