[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: 31CFR330.2]

[Page 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. 330.2  Qualification for use of special endorsement.

    (a) Application for authority. Any financial institution qualified 
as a paying agent of savings bonds and notes under the provisions of 
Department of the Treasury Circular No. 750, current revision, may 
establish its eligibility to employ the special endorsement procedure by 
executing and submitting the appropriate application-agreement form to 
the designated Federal Reserve Bank. In executing the form, the agent 
certifies that, by duly executed resolution of its governing board or 
committee, it has been authorized to apply for the privilege of paying 
and processing securities in accordance with the provisions and 
conditions of this part (Circular No. 888, including all supplements, 
amendments, and revisions, and any related instructions). If the 
application is approved, the designated Federal Reserve Bank will issue 
a certificate of qualification.
    (b) Agents previously qualified. Paying agents qualified under 
previous revisions of this part are authorized to continue to act 
without requalification. They shall, however, be subject to the terms 
and conditions of the previously executed application and these 
regulations in the same manner and to the same extent as though they had 
requalified hereunder.
    (c) Termination of qualification. The Secretary of the Treasury 
reserves the right to withdraw the special endorsement authority from 
any paying agent at any time. Such authority will also be terminated at 
any time at the request of the paying agent. In either event, formal 
notice of the termination shall be given to the agent in writing by the 
designated Federal Reserve Bank.

[53 FR 37519, Sept. 26, 1988, as amended at 59 FR 10539, Mar. 4, 1994]