[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: 31CFR330.1]

[Page 223-224]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 330--REGULATIONS GOVERNING PAYMENT UNDER SPECIAL ENDORSEMENT OF UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)--Table of Contents
 
Sec. 330.1  Definition of terms.

    As used in this part:
    (a) Federal Reserve Bank or Bank refers to the Federal Reserve Bank 
providing savings bond services to the district in which a paying agent 
is located. See Sec. 330.9.
    (b) Owner(s) means the person(s) named as registered owner or 
coowners on a bond or note, or as the designated beneficiary who has 
succeeded to ownership of the bond or note upon the

[[Page 224]]

death of the owner. For the purposes of special endorsement, but not 
payment, by a qualified agent, the term may also include fiduciaries, 
corporations, partnerships, associations, and other entities named on a 
security, where such registration is authorized.
    (c) Paying agent(s) or agent(s) refers to an eligible financial 
institution qualified under the provisions of this part to specially 
endorse securities and qualified, under the provisions of Department of 
the Treasury Circular No. 750, current revision (31 CFR part 321), to 
redeem eligible savings bonds and notes. The term includes the branches 
of a qualified agent that redeem bonds and notes and are themselves 
directly accountable for such redemptions.
    (d) Redemption and payment are used interchangeably for payment of a 
bond or note in accordance with the terms of its offering and the 
regulations governing it, and include redemption-exchange.
    (e) Redemption-exchange means any authorized redemption of eligible 
securities for the purpose of applying the proceeds in payment for other 
securities offered in exchange by the Treasury.
    (f) Savings bond(s) or bond(s) means a United States Savings Bond of 
Series A, B, C, D, E, EE, or I.
    (g) Savings notes(s) or notes(s) means a United States Savings Note 
(Freedom Share).
    (h) Security or securities means a savings bond or note, as defined 
in paragraphs (f) and (g) of this section.
    (i) Special endorsement means a procedure under which a security is 
redeemed by an agent, qualified under the provisions of this part, for 
cash or on redemption-exchange (or forwarded for redemption to a 
designated Federal Reserve Bank, where appropriate), utilizing a special 
stamp placed on the security in lieu of a request for payment signed by 
the owner.

[53 FR 37519, Sept. 26, 1988, as amended at 59 FR 10538, 10539, Mar. 4, 
1994; 63 FR 38044, July 14, 1998]