23 Miss. Code R. § 103-4.14

Current through June 25, 2024

Rule 23-103-4.14 - US Savings Bonds

A. General.

1. A US Savings Bond is an obligation of the federal government, is not transferable and can only be sold back to the federal government.

B. Treatment.

1. Ownership Determination.

a) The individual(s) in whose name the bond is registered is the owner and retains sole ownership rights during his lifetime, even if a beneficiary is also named.

2. Valuation.

a) The redemption value of US bonds must be determined through the US Treasury and counts as a resource.

1) If there are joint owners, each individual owns equal shares of the bond's redemption value.

23 Miss. Code. R. § 103-4.14

Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).