[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: 31CFR328.1]

[Page 220-221]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 328--RESTRICTIVE ENDORSEMENTS OF U.S. BEARER SECURITIES--Table of Contents
 
Sec. 328.1  Scope of regulations.

    The regulations in this part are applicable only to U.S. bearer 
securities\1\  presented:
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    \1\ Certain agencies of the United States and certain Government and 
Government-sponsored corporations also authorize the restrictive 
endorsement of bearer securities.
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    (a) By or through banks for payment at or after their maturity or 
call date, or in exchange for any securities under any exchange 
offering,
    (b) By banks for conversion to book-entry securities,
    (c) By or through banks at any time prior to their maturity or call 
date for redemption at par and application of

[[Page 221]]

the entire proceeds in payment of Federal estate taxes, provided said 
securities by the terms of their issue are eligible for such redemption, 
and
    (d) By Service Center Directors and District Directors, Internal 
Revenue Service, for redemption, with the proceeds to be applied in 
payment of taxes (other than securities presented under paragraph (c) of 
this section).

These regulations do not apply to bearer securities presented for any 
other transactions, or to registered securities assigned in blank, or to 
bearer, or so assigned as to become, in effect, payable to bearer.