31 C.F.R. § 342.7

Current through November 30, 2024
Section 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.

31 C.F.R. §342.7

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