[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: 38CFR13.103]

[Page 564]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 13_VETERANS BENEFITS ADMINISTRATION, FIDUCIARY 
 
Sec. 13.103  Investments by Federal fiduciaries.

    (a) Type authorized. VA benefits paid to a Federally appointed 
fiduciary other than a spouse payee or an institutional award payee may 
be invested only in United States savings bonds, or in interest or 
dividend-paying accounts in State or Federally insured institutions, 
whichever is to the beneficiary's advantage. Department of Veterans 
Affairs benefits that are paid on behalf of an incompetent veteran to an 
institution via an institutional award payment arrangement may not be 
invested.
    (b) Registration. (1) When funds are invested in bonds, the bonds 
will be registered in this form: (Beneficiary's Name), (Social Security 
No.), under custodianship by designation of the Department of Veterans 
Affairs.
    (2) When funds are invested in interest or dividend-paying accounts 
in State or Federally insured institutions, the account will be 
registered in this form: (Beneficiary's name), by (Fiduciary's Name), 
Federal fiduciary.
    (c) Pre-need burial arrangements. Federally appointed fiduciaries, 
other than institutional award payees, may use a beneficiary's funds 
derived from VA benefits to make deposits into, or purchase, a pre-need 
burial plan or burial insurance on behalf of the beneficiary, if to do 
so is in the beneficiary's interest.

(Authority: 38 U.S.C. 501)

[53 FR 20619, June 6, 1988]

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