[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: 31CFR357.25]

[Page 423]
 
                  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 HELD 
 
 Subpart C_Legacy Treasury Direct Book-Entry Securities System (Legacy 
                            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 Legacy Treasury Direct [reg] 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.