[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: 31CFR328.6]

[Page 222]
 
                  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. 328.6  Requirements for endorsement.

    (a) On bearer securities. The endorsement must be imprinted in the 
lefthand portion of the face of each security with the first line 
thereof parallel to the left edge of the security and in such manner as 
to be clearly legible and in such position that it will not obscure the 
serial number, series designation, or other identifying data, and cover 
the smallest possible portion of the text on the face of the security. 
The dimensions of the endorsement should be approximately 4 inches in 
width and 1\1/2\ inches in height, and must be imprinted by stamp or 
plate of such character as will render the endorsement substantially 
ineradicable. The name of the Federal Reserve bank of the district must 
appear on the plate or stamp used for the imprinting of the endorsement, 
and presentation to the appropriate branch of the Federal Reserve bank 
named will be considered as presentation to the bank. When securities 
are to be presented to the Bureau of the Public Debt, the words ``United 
States Treasury'' should be used in lieu of the words ``Federal Reserve 
Bank of --------------, Fiscal Agent of the United States.'' No 
subsequent endorsement will be recognized. If the form of endorsement on 
a security is different than that prescribed in Sec. 328.5, the 
provisions of Secs. 328.7 and 328.8 shall not apply to the security.
    (b) On coupons. Unmatured coupons attached to restrictively endorsed 
securities should be canceled by imprinting the prescribed endorsement 
in such manner that a substantial portion of the endorsement will appear 
on each such coupon. If any such coupons are missing, deduction of their 
face amount will be made in cases of redemption, and in cases of 
exchange, remittance equal to the face amount of the missing coupons 
must accompany the securities. All matured coupons, including coupons 
which will mature on or before the date of redemption or exchange 
(except as otherwise specifically provided in an announcement of an 
exchange offering), should be detached from securities upon which 
restrictive endorsements are to be imprinted.