[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: 31CFR357.25]

[Page 407]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 357--REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS (DEPARTMENT OF THE TREASURY CIRCULAR, PUBLIC DEBT SERIES NO. 2-86)--Table of Contents
 
   Subpart C--Treasury Direct Book-Entry Securities System (TREASURY 
                                 DIRECT)
 
Sec. 357.25  Security interests.

    (a) General. The Department will not recognize any notice or claim 
of a lien, encumbrance, or security interest of any kind, including a 
pledge, in a security in TREASURY DIRECT except as provided in 
Sec. 357.23 and in paragraph (b) of this section.
    (b) Security for the performance of duty or obligation under Federal 
law. The Department will accept and hold pursuant to the provisions of 
31 U.S.C. 9303, book-entry bonds, notes or bills submitted in lieu of a 
surety bond as security for the performance of a duty or obligation 
required by Federal law in accordance with said section.