[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: 31CFR351.5]

[Page 301]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 351--OFFERING OF UNITED STATES SAVINGS BONDS, SERIES EE--Table of Contents
 
Sec. 351.5  Purchase of bonds.

    (a) Payroll sales--(1) Payroll savings plans. Bonds in $100 and 
higher denominations may be purchased through deductions from the pay of 
employees of organizations that maintain payroll savings plans. The 
bonds must be issued by an authorized issuing agent.
    (2) Employee thrift, savings, vacation, and similar plans. Bonds 
registered in the names of trustees of employee plans may be purchased 
in book-entry form in $100 multiples through a designated Federal 
Reserve Bank after Bureau of the Public Debt approval of the plan as 
eligible for the special limitation under Sec. 353.13 of this chapter, 
also published as Sec. 353.13 of Department of the Treasury Circular, 
Public Debt Series No. 3-80.
    (b) Over-the-counter sales--(1) Eligible issuing agents. Bonds may 
be purchased through any issuing agent, except that an organization 
serving as an issuing agent because of its status as an employer or an 
organization operating an employer's payroll savings plan under 
Sec. 317.2(c) of this chapter may sell bonds only through payroll 
savings plans.
    (2) Manner of sale. An application for the purchase of a bond must 
be accompanied by a remittance to cover the issue price. The purchase 
application and remittance may be submitted to an issuing agent by any 
means acceptable to the issuing agent. An application may authorize 
purchases on a recurring basis. The issuing agent bears the burden of 
collection and the risk of loss for non-collection or return of the 
remittance.

[63 FR 64551, Nov. 20, 1998]