[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: 31CFR339.1]

[Page 234]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 339--EXCHANGE OFFERING OF UNITED STATES SAVINGS BONDS, SERIES H--Table of Contents
 
Sec. 339.1  Definitions of words and terms as used in this circular.

    Unless the context otherwise requires or indicates:
    (a) Securities mean outstanding U.S. Savings Bonds of Series E and 
U.S. Savings Notes (freedom shares).
    (b) Owner means an owner of securities, except a commercial bank in 
its own right (as distinguished from a representative or fiduciary 
capacity) and a nonresident alien who is a resident of an area with 
respect to which the Treasury Department restricts or regulates delivery 
of checks drawn against funds of the United States or any agency or 
instrumentality thereof. The term includes a registered owner, whether 
or not a natural person, either coowner (but only the principal coowner 
if Series H bonds are requested in a form of registration different from 
that on the securities submitted), a surviving beneficiary, or any other 
person who would be entitled to reissue under the regulation governing 
U.S. Savings Bonds,\1\ such as, but not limited to, any person entitled 
to succeed to the estate of a deceased owner.
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    \1\ Department Circular No. 530, current revision (31 CFR part 315). 
Copies may be obtained from any Federal Reserve Bank or Branch or the 
Bureau of the Public Debt, Washington, DC 20220.
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    (c) Commercial bank means a bank accepting demand deposits.
    (d) Interest means the increment in value on Series E savings bonds 
and on savings notes.
    (e) Principal coowner means a coowner who purchased the securities 
submitted for exchange with his own funds or received them as a gift, 
legacy or inheritance or as a result of judicial proceedings and had 
them reissued in coownership form, provided he has received no 
contribution in money or money's worth from the other coowner for 
designating him on the securities.