[Code of Federal Regulations]
[Title 38, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 38CFR11.76]

[Page 541]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 11_LOANS BY BANKS ON AND PAYMENT OF ADJUSTED SERVICE 
 
Sec. 11.76  To whom loan may be made.

    Only the veteran named in the certificate can lawfully obtain a loan 
on his adjusted service certificate and neither the beneficiary nor any 
other person than the veteran has any rights in this respect. The person 
to whom the loan is made must be known to the lending bank to be the 
veteran named in the certificate securing such note. The consent of the 
beneficiary is not required, the act providing that a loan on the 
security of the certificate may be made ``with or without the consent of 
the beneficiary thereof.'' Loans may be made to veterans adjudged 
incompetent only through the guardians of such veterans and pursuant to 
specific order of the court having jurisdiction. Certified copy of court 
order must be submitted if note be presented for redemption by the 
Department of Veterans Affairs.