C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 315—REGULATIONS GOVERNING U.S. SAVINGS BONDS, SERIES A, B, C, D, E, F, G, H, J, AND K, AND U.S. SAVINGS NOTES › Subpart E—Limitations on Judicial Proceedings—No Stoppage or Caveats Permitted

31 C.F.R. § 315.21

Payment to judgment creditors

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(a) Purchaser or officer under levy. The Department of the Treasury will pay (but not reissue) a savings bond to the purchaser at a sale under a levy or to the officer authorized under appropriate process to levy upon property of the registered owner or coowner to satisfy a money judgment. Payment will be made only to the extent necessary to satisfy the money judgment. The amount paid is limited to the redemption value 60 days after the termination of the judicial proceedings. Payment of a bond registered in coownership form pursuant to a judgment or a levy against only one coowner is limited to the extent of that coowner's interest in the bond. That interest must be established by an agreement between the coowners or by a judgment, decree, or order of a court in a proceeding to which both coowners are parties.

(b) Trustee in bankruptcy, receiver, or similar court officer. The Department of the Treasury will pay, at current redemption value, a savings bond to a trustee in bankruptcy, a receiver of an insolvent's estate, a receiver in equity, or a similar court officer under the provisions of paragraph (a) of this section.

Notes of Decisions
Cited in 3 cases, 1969–2017 · leading case: Laturner v. United States, 133 Fed. Cl. 47 (Fed. Cl. 2017).
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Laturner v. United States, 133 Fed. Cl. 47 (Fed. Cl. 2017). “In supplemental briefing ordered by the Court, the government expanded its argument to include the additional types of judicial proceedings listed in 31 C.F.R. § 315.21 , which concern payments to judgment creditors and the treatment of U.”
Lea v. United States, 132 Fed. Cl. 705 (Fed. Cl. 2017). “In supplemental briefing ordered by the Court, the government expanded its argument to include the additional types of judicial proceedings listed in 31 C.F.R. § 315.21 , which concern payments to judgment creditors and the treatment of U.”
Kentucky Co. v. Hayes, 407 F.2d 1031 (6th Cir. 1969). · cites it 3× “This principle seems to us to be thoroughly established by the explicit language of the Treasury Regulations which we quote hereafter — and in particular by 31 C.F.R. § 315.21 (1968). And the authorities relied upon by appellants amply illustrate (directly or by implication) the…”
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