[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR306.18]

[Page 160]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 306_GENERAL REGULATIONS GOVERNING U.S. SECURITIES--Table of Contents
 
               Subpart C_Transfers, Exchanges and Reissues
 
Sec.  306.18  Exchanges of coupon securities for registered securities.

    Coupon securities presented for exchange for registered securities 
should have all matured interest coupons detached. All unmatured coupons 
should be attached, except that if presented when the transfer books are 
closed (in which case the exchange will be effected on or after the date 
on which the books are reopened), the next maturing coupons should be 
detached and held for collection in ordinary course when due. If any 
coupons which should be attached are missing, the securities must be 
accompanied by a remittance in an amount equal to the face amount of the 
missing coupons. The new registered securities will bear interest from 
the interest payment date next preceding the date on which the exchange 
is made.