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Electronic Code of Federal Regulations

e-CFR data is current as of January 23, 2020

Title 31Subtitle BChapter IISubchapter APart 357Subpart C → §357.25


Title 31: Money and Finance: Treasury
PART 357—REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS HELD IN TREASURY/RESERVE AUTOMATED DEBT ENTRY SYSTEM (TRADES) AND LEGACY TREASURY DIRECT
Subpart C—Legacy Treasury Direct Book-Entry Securities System (Legacy Treasury Direct)


§357.25   Security interests.

(a) General. The Department will not recognize any notice or claim of a lien, encumbrance, or security interest of any kind, including a pledge, in a security in Legacy Treasury Direct® except as provided in §357.23 and in paragraph (b) of this section.

(b) Security for the performance of duty or obligation under Federal law. The Department will accept and hold pursuant to the provisions of 31 U.S.C. 9303, book-entry bonds, notes or bills submitted in lieu of a surety bond as security for the performance of a duty or obligation required by Federal law in accordance with said section.

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