31 C.F.R. § 315.35

Payment (redemption)

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(a) General. Payment of a savings bond will be made to the person or persons entitled under the provisions of these regulations, except that checks in payment will not be delivered to addresses in areas with respect to which the Department of the Treasury restricts or regulates the delivery of checks drawn against funds of the United States. See Department of the Treasury Circular No. 655, current revision (31 CFR part 211). Payment will be made without regard to any notice of adverse claims to a bond and no notification of stoppage or caveat against payment of a bond will be made.

(b) Series A, B, C, D, F, and J. A bond of Series A, B, C, D, F, or J will be paid at face value.

(c) Series E and Savings Notes. A Series E bond will be paid at any time after two months from issue date at the appropriate redemption value shown in Department of the Treasury Circular No. 653 (31 CFR part 316), current revision. A savings note will be paid at anytime at the appropriate redemption value shown in Department of the Treasury Circular, Fiscal Service Series No. 3-67, current revision (31 CFR part 342).

(d) Series G and K. A bond of Series G or K will be paid at face value plus the final semiannual interest due. For Series G bonds, the final interest paid with principal is $1.25 per $100; for Series K bonds, the final interest is $6.90 per $500.

(e) Series H. A Series H bond will be redeemed at face value at any time after six (6) months from issue date. In any case where Series H bonds are surrendered to a designated Federal Reserve Bank or Branch or the Department of the Treasury for redemption in the month prior to an interest payment date, redemption will not be deferred but will be made in regular course, unless the presenter specifically requests that the transaction be delayed until that date. A request to defer redemption made more than one month preceding the interest payment date will not be accepted.

[45 FR 64091, Sept. 26, 1980, as amended at 51 FR 23753, July 1, 1986; 59 FR 10535, Mar. 4, 1994]

Notes of Decisions

Cited in 5 cases, 1972–2019 · leading case: Laturner v. United States, 933 F.3d 1354 (Fed. Cir. 2019).

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Laturner v. United States, 933 F.3d 1354 (Fed. Cir. 2019). · cites it 2× “§ 3105 (b)(2)(A) ; 31 C.F.R. § 315.35 (c). Federal law also limits the ability to transfer bonds.”

Laturner v. United States, 133 Fed. Cl. 47 (Fed. Cl. 2017). · cites it 2× “Treasury’s regulations make its payment obligation clear: under 31 C.F.R. § 315.35 (a), “[pjayment ... will be made to the person or persons entitled under the provisions of these regulations.”

Lea v. United States, 132 Fed. Cl. 705 (Fed. Cl. 2017). “” 31 C.F.R. § 315.35 (a). Series E bonds will be paid “at any time after two months from issue date at the appropriate redemption value,” while Series H bonds “will be redeemed at face value at any time after six (6) months from issue date.”

Ammon v. United States (Fed. Cl. 2019). · cites it 3× “He seeks $49,777,666 in compensation for “redemption and relief for his withheld authentic savings coupon bond certificate of indebtedness entitled to him under the provisions and regulations [of] 31 C.F.R. § 315.35 (a)” and “as stated on his Uniform Commercial Code financial…”

Ruck Est., 58 Pa. D. & C.2d 768 (1972). “Pursuant to the applicable regulations of the United States Treasury relating to payment of such bonds to other than the registered owner (31 C.F.R. 315.35, 315.37, 315.50 and 315.”

— 31 C.F.R. § 315.35(a) — 1 case

Laturner v. United States, 133 Fed. Cl. 47 (Fed. Cl. 2017). “Treasury’s regulations make its payment obligation clear: under 31 C.F.R. § 315.35 (a), “[pjayment ... will be made to the person or persons entitled under the provisions of these regulations.”

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