[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: 31CFR358.12]

[Page 430]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 358--REGULATIONS GOVERNING BOOK-ENTRY CONVERSION OF BEARER CORPORA AND DETACHED BEARER COUPONS--Table of Contents
 
Sec. 358.12  What is Treasury's liability if the depository institution does not have authority to convert securities?

    We are not liable if the depository institution has no authority to 
convert the bearer corpora and detached bearer coupons to book-entry 
form or to take other actions in respect to book-entry accounts in BECCS 
and CUBES.