[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: 31CFR321.9]

[Page 207]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 321--PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)--Table of Contents
 
                      Subpart C--Scope of Authority
 
Sec. 321.9  Specific limitations on payment authority.

    An agent is not authorized to redeem a security for cash or on 
redemption-exchange:
    (a) If it is a Series EE bond or a Series I bond presented for 
payment prior to six months from its issue date.
    (b) If it is a savings bond of Series F, G, H, J, K, or HH.
    (c) If the presenter is acting under a power of attorney.
    (d) If the agent does not know or cannot establish the identity of 
the presenter as a person entitled to request payment as provided in 
Sec. 321.7.
    (e) If the presenter does not sign his or her name in ink as it is 
inscribed on the security (except as provided in Sec. 321.7 (b) or (c) 
of this part, or appears in evidence of appointment (see Sec. 321.7(f)), 
and show a home or business address.
    (f) If the taxpayer identifying number of the presenter, or the 
estate represented by the presenter, is not known to the agent and the 
presenter refuses to furnish the number.
    (g) If the security bears a material irregularity, such as an 
illegible, incomplete or unauthorized inscription, issue date, or 
issuing agent's validating data, or if any essential part of the 
security appears to have been altered or is mutilated or defaced in such 
a manner as to create doubt or arouse suspicion.
    (h) If the security is registered in the name of a corporation, 
association, partnership, or other organization in its own right.
    (i) If Treasury regulations require the submission of documentary 
evidence to support the redemption, except as provided in Sec. 321.7 (d) 
or (f) of this part, as in the case of incompetents, minors under legal 
guardianship, or the change of a registrant's name other than by 
marriage.
    (j) If the presenter is a minor who, in the opinion of the agent, is 
not of sufficient competency and understanding to sign the request for 
payment and comprehend the nature of the act.
    (k) If it is known to the agent that the presenter has been legally 
declared incompetent to manage his or her affairs.
    (l) If partial redemption is requested.

[53 FR 37511, Sept. 26, 1988, as amended at 55 FR 35396, Aug. 29, 1990; 
63 FR 38042, July 14, 1998]