[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR315.16]

[Page 172]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 315--REGULATIONS GOVERNING U.S. SAVINGS BONDS, SERIES A, B, C, D, E, F, G, H, J, AND K, AND U.S. SAVINGS NOTES--Table of Contents
 
              Subpart D--Limitations on Transfer or Pledge
 
Sec. 315.16  Pledge.

    (a) General. A savings bond may not be hypothecated, pledged, or 
used as security for the performance of an obligation, except as 
provided in paragraph (b) of this section.
    (b) Pledge under Treasury Circular No. 154. A bond may be pledged by 
the registered owner in lieu of surety under the provisions of 
Department of the Treasury Circular No. 154, current revision (31 CFR 
part 225), if the bond approving officer is the Secretary of the 
Treasury. In this case, an irrevocable power of attorney shall be 
executed authorizing the Secretary of the Treasury to request payment.