[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: 31CFR344.9]

[Page 267-268]
 
                  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. 344.9  How do I redeem a Demand Deposit security?

    To redeem a demand deposit security, follow this section.
    (a) When must I notify DSI to redeem a security? To determine when 
you must notify us, follow this table:

------------------------------------------------------------------------

-----------------------------------------------------------------------
A security can be redeemed at the    for redemptions of * * *
 owner's option, if DSI receives a
 request for redemption not less
 than * * *.
------------------------------------------------------------------------
(1) 1 business day before the        $10 million or less.
 requested redemption date.
------------------------------------------------------------------------
(2) 3 business days before the       more than $10 million.
 requested redemption date.
------------------------------------------------------------------------


[[Page 268]]

    (b) Can I request partial redemption of a security balance? You may 
request partial redemptions in any amount. If your account balance is 
less than $1,000, it must be redeemed in total.
    (c) Do I have to submit a notice of redemption? Yes. An official 
authorized to redeem the securities must submit an electronic or paper 
Treasury form PD F 5238, ``Request for Redemption of U.S. Treasury 
Securities State and Local Government Series One-Day Certificate of 
Indebtedness Demand Deposit.'' The notice must show the Taxpayer 
Identification Number of the issuer, the Treasury case number, the 
security number and the dollar amount of the securities to be redeemed. 
DSI must receive the notice by 3:00 p.m., Eastern time on the required 
day. You cannot cancel the notice.