[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: 31CFR315.35]

[Page 177]
 
                  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 H--General Provisions for Payment
 
Sec. 315.35  Payment (redemption).


    (a) General. Payment of a savings bond will be made to the person or 
persons entitled under the provisions of these regulations, except that 
checks in payment will not be delivered to addresses in areas with 
respect to which the Department of the Treasury restricts or regulates 
the delivery of checks drawn against funds of the United States. See 
Department of the Treasury Circular No. 655, current revision (31 CFR 
part 211). Payment will be made without regard to any notice of adverse 
claims to a bond and no notification of stoppage or caveat against 
payment of a bond will be made.
    (b) Series A, B, C, D, F, and J. A bond of Series A, B, C, D, F, or 
J will be paid at face value.
    (c) Series E and Savings Notes. A Series E bond will be paid at any 
time after two months from issue date at the appropriate redemption 
value shown in Department of the Treasury Circular No. 653 (31 CFR part 
316), current revision. A savings note will be paid at anytime at the 
appropriate redemption value shown in Department of the Treasury 
Circular, Public Debt Series No. 3-67, current revision (31 CFR part 
342).
    (d) Series G and K. A bond of Series G or K will be paid at face 
value plus the final semiannual interest due. For Series G bonds, the 
final interest paid with principal is $1.25 per $100; for Series K 
bonds, the final interest is $6.90 per $500.
    (e) Series H. A Series H bond will be redeemed at face value at any 
time after six (6) months from issue date. In any case where Series H 
bonds are surrendered to a designated Federal Reserve Bank or Branch or 
the Department of the Treasury for redemption in the month prior to an 
interest payment date, redemption will not be deferred but will be made 
in regular course, unless the presenter specifically requests that the 
transaction be delayed until that date. A request to defer redemption 
made more than one month preceding the interest payment date will not be 
accepted.

[45 FR 64091, Sept. 26, 1980, as amended at 51 FR 23753, July 1, 1986; 
59 FR 10535, Mar. 4, 1994]