31 C.F.R. § 315.38
Payment during lifetime of owner of beneficiary bond
A savings bond registered in beneficiary form will be paid to the registered owner during his or her lifetime upon surrender with an appropriate request. Upon payment (as determined in § 315.43), the beneficiary will cease to have any interest in the bond.
Notes of Decisions
Cited in 7
cases, 1955–2017 · leading case: Treasurer of New Jersey v. United States Dep't of the Treasury, 684 F.3d 382 (3rd Cir. 2012).
Treasurer of New Jersey v. United States Dep't of the Treasury, 684 F.3d 382 (3rd Cir. 2012). “See 31 C.F.R. §§ 315.38 , 353.38. Payment agents, ordinarily banks, are financial institutions qualified under Treasury regulations to pay sums due on savings bonds.”
Wolak v. United States, 366 F. Supp. 1106 (D. Conn. 1973). “No request signed in behalf of the owner, a coowner, or person entitled to payment by an agent or a person acting under a power of attorney will be recognized by the Treasury Department [with exceptions not pertinent hereto].”
Morrison v. ALICANDRO, 472 F. Supp. 2d 2 (D. Mass. 2007). “31 C.F.R. § 315.38 (2006). 20 . Id. 21 . Id.”
Farrar v. Whaley, 211 So. 3d 449 (La. Ct. App. 2017). “31 CFR § 315.38 . If the owner of a bond registered in beneficiary form dies and is survived by the beneficiary, the beneficiary is recognized as the sole and absolute owner of the savings bond.”
In Re Est. of Cornelison, 290 P.2d 1016 (Kan. 1955). “31 CFR 315.38 *613 provides, amongst other things that where an owner of a bond has been judicially declared incompetent and a guardian appointed, payment will be made only to such guardian or similar representative and a showing of the appointment must be made.”
Gaupp v. Tarver, 691 So. 2d 107 (La. Ct. App. 1997). “31 CFR § 315.38 . If the owner of a bond registered in beneficiary form dies and is survived by the beneficiary, the beneficiary is recognized as the sole and absolute owner of the savings bond.”
Treasurer State NJ v. US Dept Treas (3rd Cir. 2012). “9 See 31 C.F.R. §§ 315.38 , 353.38. Payment agents, ordinarily banks, are financial institutions qualified under Treasury regulations to pay sums due on savings bonds.”
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