[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: 38CFR11.85]

[Page 543]
 
            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.  11.85  Condition requisite for redemption.

    In order to be eligible for redemption by the Department of Veterans 
Affairs, the note and certificate must be accompanied by an affidavit of 
a duly authorized officer (the capacity in which the officer serves must 
be shown) of the lending bank showing that the said bank has not charged 
or collected, or attempted to charge or collect, directly or indirectly, 
any fee or other compensation in respect of the loan, or any other loan 
made by the bank under the provisions of section 502 of the World War 
Adjusted Compensation Act, except the rate of interest specified in the 
section of the Act cited; that the person who obtained the loan is known 
to the lending bank to be the person named in the Adjusted Service 
Certificate; and that notice required by Sec.  11.77 was promptly given. 
In case the note was sold or discounted by the lending bank, there 
should be incorporated in the affidavit a statement that the veteran was 
notified promptly of the transfer by mail to his last known address. In 
case the note was resold or rediscounted by any other bank, affidavit 
shall be made by a duly authorized officer of such bank that proper 
notice of such resale or rediscount was promptly mailed to the veteran 
at his last known address. The proper execution of the appropriate 
affidavit on Form 6615 or 6615a will be considered as a compliance with 
the requirements of this section. A single affidavit setting forth the 
full particulars may be accepted to cover any number of veterans' notes 
submitted for redemption at one time. The affidavit must be executed 
before a judge of the United States court, a United States commissioner, 
a United States district attorney, a United States marshal, a collector 
of internal revenue, a collector of customs, a United States postmaster, 
a clerk of court of record under the seal of the court, an executive 
officer of an incorporated bank or trust company, under his official 
designation and the seal of the bank or trust company, or a notary 
public under his seal, or a diplomatic or consular officer of the United 
States, under his official seal.

  Disposition of Notes Secured by Adjusted Certificates Redeemed from 
  Banks by the Department of Veterans Affairs Under Section 502 of the 
   World War Adjusted Compensation Act, as Amended (Pub. L. 120, 68th 
                                 Cong.)

    Source: 13 FR 7126, Nov. 27, 1948, unless otherwise noted.