[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: 38CFR11.81]

[Page 542]
 
            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. 11.81  Rediscounts with Federal Reserve Banks.

    Upon the endorsement of any bank, which shall be deemed a waiver of 
demand, notice and protest by such bank as to its own endorsement 
exclusively, and subject to regulations to be prescribed by the Federal 
Reserve Board, any such note secured by an Adjusted Service Certificate 
and held by a bank is made eligible for discount or rediscount by the 
Federal reserve bank of the Federal reserve district in which such bank 
is located, whether or not the bank offering the note for discount or 
rediscount is a member of the Federal Reserve System and whether or not 
it acquired the note in the first instance from the veteran or acquired 
it by transfer upon the endorsement of any other bank: Provided, That at 
the time of discount or rediscount such note has a maturity not in 
excess of 9 months, exclusive of days of grace, and complies in all 
other respects with the provisions of the law, the regulations of the 
Federal Reserve Board and the regulations in this part.