[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: 31CFR317.3]

[Page 197-198]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 317--REGULATIONS GOVERNING AGENCIES FOR ISSUE OF UNITED STATES SAVINGS BONDS--Table of Contents
 
Sec. 317.3  Procedure for qualifying and serving as issuing agent.

    (a) Execution of application agreement. An organization seeking 
issuing agent qualification generally shall obtain from and file with a 
designated Federal Reserve Bank an application-agreement form. However, 
if an organization seeks qualification under Sec. 317.2(d) or because of 
its status as an organization operating a payroll savings plan on behalf 
of an employer under Sec. 317.2(c), it

[[Page 198]]

shall make application directly to the Bureau of the Public Debt for 
approval by the Commissioner of the Bureau of the Public Debt. An 
application-agreement sent directly to the Bureau of the Public Debt 
shall be supplemented by such other information as the Bureau of the 
Public Debt may request.
    (1) The terms of each application agreement shall include the 
provisions prescribed by section 202 of Executive Order No. 11246, 
entitled ``Equal Employment Opportunity'' (3 CFR, subchapter B, 42 
U.S.C. 2000e note).
    (2) The provisions of the Privacy Act of 1974, as amended (5 U.S.C. 
552a), and regulations issued pursuant thereto (31 CFR part 1, subpart 
C).
    (b) Certificate of qualification. Upon approval of an application-
agreement, the designated Federal Reserve Bank or the Bureau of the 
Public Debt will issue a certificate of qualification to the 
organization. Until the receipt of such a certificate, an organization 
shall not perform any act as an issuing agent, or advertise in any 
manner that it is authorized to so act or that it has applied for 
qualification as an issuing agent. After receipt of a certificate of 
qualification, an organization may perform the functions of an issuing 
agent. Under the terms of the application-agreement, the proceeds of the 
sale of bonds are at all times the property of the United States for 
which the organization shall be fully accountable.
    (c) Adverse action or change in qualification. An organization will 
be notified by the designated Federal Reserve Bank or the Bureau of the 
Public Debt if its application-agreement to act as issuing agent is not 
approved, or if, after issuance, its certificate of qualification is 
terminated.

[54 FR 40830, Oct. 3, 1989, as amended at 59 FR 10535, 10536, Mar. 4, 
1994; 63 FR 64550, Nov. 20, 1998]