[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: 31CFR344.8]

[Page 267]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 344--U.S. TREASURY SECURITIES--STATE AND LOCAL GOVERNMENT SERIES--Table of Contents
 
                  Subpart C--Demand Deposit Securities
 
Sec. 344.8  How do I subscribe for Demand Deposit securities?

    (a) Where do I submit transactions? All subscriptions for purchase, 
cancellation requests, changes to subscriptions and notices of 
redemption must be sent to DSI.
    (b) What requirements apply to subscriptions?
    (1) What form is used to submit a subscription? You must submit an 
electronic or paper Treasury form, PD F 5237, ``Subscription for 
Purchase of U.S. Treasury Securities State and Local Government Series 
One-Day Certificate of Indebtedness Demand Deposit.''
    (2) When is my subscription or cancellation request due in DSI? To 
determine when you must send a subscription or cancellation request, 
follow this table:

------------------------------------------------------------------------
                If:                                 Then:
------------------------------------------------------------------------
(i) The subscription is for:.......  DSI must receive a subscription (or
                                      you can cancel it without
                                      penalty):
------------------------------------------------------------------------
(A) $10 million or less, or........  at least 5 days before the issue
                                      date of the subscription.
------------------------------------------------------------------------
(B) Over $10 million...............  at least 7 days before the issue
                                      date of the subscription.
------------------------------------------------------------------------
(ii) The 5th or 7th day before the   DSI must receive the cancellation
 issue date is a non-business day *   request on the preceding business
 * *.                                 day.
------------------------------------------------------------------------
(iii) DSI receives a subscription    DSI will not accept a subscription.
 more than 60 days before the issue
 date * * *.
------------------------------------------------------------------------

    (3) How do I change a subscription? You can change the principal 
amount to be invested without penalty on or before the issue date, but 
no later than 3:00 p.m., Eastern time, on the issue date. If you submit 
an untimely change, Sec. 344.5(b)(4)(iv) applies.
    (4) What information must be contained on the subscription? The 
subscription must:
    (i) Be dated and signed by an official authorized to make the 
purchase;
    (ii) Include the Taxpayer Identification Number of the issuer; and
    (iii) Specify the principal amount to be invested and the issue 
date.