[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR344.9]

[Page 283]
 
                  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?

    (a) When must I notify BPD to redeem a security? A Demand Deposit 
security can be redeemed at the owner's option, if BPD receives a 
request for redemption not less than:
    (1) One business day before the requested redemption date for 
redemptions of $10 million or less; and
    (2) Three business days before the requested redemption date for 
redemptions of more than $10 million.
    (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 request for redemption? Yes. An official 
authorized to redeem the securities must submit an electronic request 
through SLGSafe. The request must show the Taxpayer Identification 
Number of the issuer, the security number, and the dollar amount of the 
securities to be redeemed. BPD must receive the request by 3 p.m., 
Eastern time on the required day. You cannot cancel the request.