[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: 31CFR330.5]

[Page 225-226]
 
                  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. 330.5  Evidence of owner's or beneficiary's authorization to affix special endorsement.

    (a) Form of authorization. The Treasury does not prescribe the form 
or type of instructions an agent must obtain from each owner, co-owner 
or beneficiary in order to use the special endorsement procedure. In the 
case of eligible Series E and EE savings bonds and savings notes 
presented for a redemption-exchange, the owner, coowner or beneficiary 
authorized to request the exchange (as specified in Circular No. 750, 
Sec. 321.8(b)), must sign the exchange subscription even though the 
eligible Series E and EE savings bonds and savings notes are specially 
endorsed.
    (b) Securities in coownership or beneficiary form. Securities 
registered in coownership or beneficiary form should be accepted for 
special endorsement only for immediate payment or exchange. Acceptance 
of bonds and notes for processing at some future date should be avoided 
as authority to utilize such endorsement generally expires upon the 
death of the owner or coowner on whose behalf securities were to be 
paid. Requests for payment of securities present by the surviving 
beneficiary must be supported by a certificate of death for the owner 
named thereon, as required by Circular No. 750, part 321 and the 
appendix to that part.
    (c) Record of authorization. Agents should maintain such records as 
may be necessary to establish the receipt of, and compliance with, 
instructions supporting the special endorsement. If the agent elects to 
make notations on the backs of the securities to serve as a record, the 
Bureau of the Public Debt

[[Page 226]]

will undertake to produce, on request, photocopies of such securities at 
any time up to ten years after the redemption date. However, the Bureau 
does not not assume responsibility for the adequacy of such notations, 
for the legibility of any photocopy, or for failure to produce a 
photocopy from its records.

[53 FR 37519, Sept. 26, 1988, as amended at 63 FR 38044, July 14, 1998]