[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: 31CFR353.35]

[Page 332]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 353--REGULATIONS GOVERNING UNITED STATES SAVINGS BONDS, SERIES EE AND HH--Table of Contents
 
                Subpart H--General Provisions for Payment
 
Sec. 353.35  Payment (redemption).


    (a) General. Payment of a savings bond will be made to the person or 
persons entitled under the provisions of these regulations, except that 
checks in payment will not be delivered to addresses in areas with 
respect to which the Department of the Treasury restricts or regulates 
the delivery of checks drawn against funds of the United States. See 
Department of the Treasury Circular No. 655, current revision (31 CFR 
part 211). Payment will be made without regard to any notice of adverse 
claims to a bond and no stoppage or caveat against payment of a bond 
will be entered.
    (b) Series EE. A Series EE bond will be paid at any time after six 
months from issue date at the current redemption value shown in 
Department of the Treasury Circular, Public Debt Series No. 1-80 (31 CFR 
part 351).
    (c) Series HH. A Series HH bond will be paid at any time after six 
months from issue date. A Series HH bond issued in an authorized 
exchange or reinvestment transaction will be paid at face value. A 
Series HH bond issued for cash will be paid at the current redemption 
value shown in Department of the Treasury Circular, Public Debt Series 
No. 2-80, Second Revision (31 CFR part 352). If the bond is redeemed at 
less than face value, the difference represents an adjustment of 
interest. In any case where Series HH bonds are surrendered to a 
designated Federal Reserve Bank or Branch or the Bureau of the Public 
Debt, Parkersburg, WV 26106-1328, for redemption in the month prior to 
an interest payment date, redemption will not be deferred but will be 
made in regular course, unless the presenter specifically requests that 
the transaction be delayed until that date. A request to defer 
redemption made more than one month preceding the interest payment date 
will not be accepted.

[44 FR 76441, Dec. 26, 1979, as amended at 51 FR 23754, July 1, 1986; 59 
FR 10541, Mar. 4, 1994]