Part

Part

SOURCE: §§ 204.0 to 204.6, inclusive, contained in 1944 Department Circular 327, Revised, Acting Secretary of the Treasury, Apr. 29, 1944, 9 F.R. 4682.

The regula

§ 204.0 Introductory. tions in this part governing the issuance of duplicates of checks drawn by a duly authorized officer or agent of the United States, the District of Columbia, or the District Unemployment Compensation Board, on their behalf against an account or funds of the United States, the District of Columbia, or the District Unemployment Compensation Board, including instruments issued by any corporation or other entity owned or controlled by the United States, the funds of which are deposited and covered into the Treasury of the United States or deposited with the Treasurer of the United States, are hereby established pursuant to the provisions of section 3646 of the Revised Statutes of 1873, as amended (31 U.S.C. 528), and section 3647 of the Revised Statutes of 1873, as amended (31 U.S.C. 119). The requirements contained in this part must be strictly observed except as the Secretary of the

Treasury, being satisfied that observance thereof is not necessary to carry out the purposes of the law and the regulations in this part may waive or modify any such requirement.

§ 204.1 Advice of nonreceipt or loss. In the event of the nonreceipt or loss of such a check, the owner, better to protect his interest, should immediately notify the Treasurer of the United States or the Federal Reserve Bank through which payable or other drawee, describing the check, stating the name of the officer or agent of the United States, the District of Columbia, the District Unemployment Compensation Board, or the corporation or entity by which the check was drawn, giving, if possible, its date, number, and amount, and requesting that payment be stopped.

Upon receipt of such request by the Treasurer of the United States and upon a determination that the check is outstanding or upon receipt of advice from a drawee other than the Treasurer that such request has been received and that the check has been found to be outstanding, a bond of indemnity (Form 2244) or, in an appropriate case, an application (Form 2244a) will be prepared in the Treasurer's office and transmitted for execution by the claimant who will transmit the duly executed form to the drawer of the original check, except as otherwise provided in § 204.4.

§ 204.2 Request for duplicate check. A bond of indemnity (Form 2244) in a penal sum equal to the amount of the check or, in an appropriate case (See §§ 204.3 (a)-204.3(e)), an application (Form 2244a), in substantially the form prescribed, must be executed by the claimant and submitted to the drawer of the original check except as otherwise provided in § 204.4, giving the claimant's name and residence in full, describing the check and all endorsements thereon and showing the claimant's interest therein. In the event the claimant is someone other than the payee of the original check he should present clear and satisfactory evidence of his ownership.

If executed in a foreign country, by one other than an officer or an employee of the United States, or a member of the Armed Forces of the United States, the application shall be sworn to before (a) a diplomatic or consular officer of the United States, or (b) an officer of the United States Army, Navy, Marine

Corps, or Coast Guard, or (c) an official of such foreign country authorized by law to administer oaths generally, and such foreign official shall affix his official seal, if any, and a diplomatic or consular officer of the United States shall certify that the foreign official who administered the oath was duly authorized under the laws of such foreign country so to act.

§ 204.3 Issuance of duplicate check. Before the close of the fiscal year following the fiscal year in which the original check was issued, the drawer will prepare a duplicate (marked “Duplicate") which must be an exact transcript of the original, special care being taken that the number, date, amount, and name of the payee correspond to those of the original. In the case of checks issued on account of public-debt obligations and transactions regarding the administration of banking and currency laws, duplicates may be issued without limitation of time. The drawer will then forward, without delay, the bond of indemnity (Form 2244) or, in an appropriate case, the application (Form 2244a), and the duplicate check to the Division of Disbursement, Treasury Department. The bond of indemnity or the application and the information obtained shall be examined by the Division of Disbursement and if satisfactory shall be scheduled and submitted to the Secretary of the Treasury for approval.

Certification of approval shall be made in writing by the Chief Disbursing Officer or the Assistant Chief Disbursing Officer on the duplicate check. Any duplicate issued pursuant to these regulations, and certified as provided above, may, if properly endorsed, be paid subject to the same rules and regulations as apply to payment of original checks.

Unless the Secretary of the Treasury deems a bond of indemnity is essential to the public interest, or unless the drawer of the check is no longer in the service of the United States, no bond of indemnity shall be required in any of the following classes of cases:

(a) If the Secretary of the Treasury is satisfied that the loss, theft, destruction, multilation, or defacement, as the case may be, occurred without fault of the owner or holder and while the check was in the custody or control of the United States, including the Postal Service when carrying mail for an officer, employee, agent, or agency of the United States when performing services

in connection with an official function of the United States, but not including the Postal Service when otherwise acting solely in its capacity as a public carrier of the mail, or of a person thereunto duly authorized as lawful agent of the United States; or while it was in the course of shipment effected pursuant to and in accordance with regulations issued under the provisions of the Government Losses in Shipment Act, as amended;

(b) If substantially the entire check is presented and surrendered by the owner or holder and the Secretary of the Treasury is satisfied as to the identity of the check presented and that any missing portions are not sufficient to form the basis of a valid claim against the United States; and in cases where the circumstances justify such action, a letter of application may be accepted in lieu of Form 2244a;

(c) If the Secretary of the Treasury is satisfied that the original check is not negotiable and cannot be made the basis of a valid claim against the United States;

(d) If the amount of the check is less than $50 and the check has not been endorsed by the payee;

(e) If the owner or holder is the United States or an officer or employee thereof in his official capacity, a State, the District of Columbia, a Territory or possession of the United States, including the Commonwealth of the Philippine Islands, a municipal corporation or political subdivision of any of the foregoing, a corporation the whole of whose capital is owned by the United States, a foreign government, or a Federal Reserve Bank.

§ 204.4 Procedure where disbursing officer who issued original check is dead or no longer in the service of the United States. In case of the loss of a check issued by an officer or agent (other than the Secretary of the Treasury, or the Treasurer of the United States) who is dead or no longer in the service of the United States, the bond required to be furnished by the owner of said check to an officer or agent in the service of the United States, prior to the issuance of a duplicate check, should be forwarded to the Division of Disbursement, Treasury Department, which will refer it to the General Accounting Office for examina

tion and the statement of an account in favor of the owner of said check, as provided in section 3647 of the Revised Statutes of 1873, as amended (31 U.S.C. 119), and section 307 of the act approved June 10, 1921 (42 Stat. 25; 31 U.S.C. 47). Payment will then be made by a check issued pursuant to such statement of account.

§ 204.5 Receipt or recovery of original check. If the original check is received or recovered after stoppage of payment has been requested, but before a duplicate check has been received, the Treasurer of the United States, or the Federal Reserve Bank through which payable, or other drawee, shall be immediately advised that the stoppage request may be disregarded. This notice should be signed by the owner of the check who requested the stoppage and should be mailed by the owner or drawer in time to reach the Treasurer or the Federal Reserve Bank through which payable, or other drawee, before the check is presented for payment.

If the original check is received or recovered after a duplicate has been received, the duplicate must not be cashed, but must be immediately forwarded to Division of Disbursement, Treasury Department, Washington 25, D. C., for cancelation.

If the original check is received or recovered after the duplicate has been cashed, the original must not be cashed, but must be immediately forwarded to Division of Disbursement, Treasury Department, Washington 25, D. C., for cancelation.

§ 204.6 Amendment of regulations. The Secretary of the Treasury may withdraw or amend at any time or from time to time any or all of the foregoing rules and regulations.

PART 226-SURETY COMPANIES ACCEPTABLE ON FEDERAL BONDS

Executive officers of Federal Reserve Banks located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco, and managers and assistant managers of the Branches thereof;

Executive officers of Federal Land Banks; Executive officers of Federal Home Loan Banks:

Executive officers of banks and trust companies incorporated in the United States, or its organized territories, and managers of the branches thereof, domestic and foreign;

Executive officers of incorporated banks and trust companies in the insular possessions of the United States doing business under Federal charter or organized under Federal law;

Commanding officers of the Army, Navy, Marine Corps and Coast Guard of the United States (only for members of their respective services);

Diplomatic and consular representatives of the United States on duty abroad, and those officers of the Navy and Marine Corps of the United States who have certain consular powers under the Act approved April 25, 1935;

Certain officers of the United States Treasury at Washington.

[Paragraph (a) amended Apr. 29, 1944, 9 F.R. 4575]

PART 315-REGULATIONS GOVERNING UNITED STATES SAVINGS BONDS

Sec. 315.5

315.9

Subpart B-Registration

Authorized forms of

registration

Series F and G. [Amended]

Subpart D-Limitations on Holdings

Amount which may be held. [Amended]

Subpart H-General Payment and Redemption Provisions [Note]

Subpart K-Two Names; Coownership Form 315.32 Payment or reissue.

[Revised]

of these two series may also be registered in the names of fiduciaries, corporations, associations and partnerships as owners (not as coowners or beneficiaries), but may not be registered in the names of commercial banks, which are defined for this purpose as those accepting demand deposits, except to such extent and under such conditions as may have been or may hereafter be provided specifically in official circulars governing the offering of other Treasury securities.1

CODIFICATION: § 315.5 was amended by deleting the second sentence of the first paragraph and inserting in lieu thereof the sentence set forth above, by Amendment 7, 1944 Department Circular 530, 5th Revision, Nov. 17, 1944, 9 F.R. 14010.

1 Circulars heretofore issued making provisions for subscription to Series F and Series G bonds by commercial banks are Circulars Nos. 729 and 740, offering 22 % Treasury Bonds of 1965-70; Circular No. 730, offering 24% Treasury Bonds of 1956-59; and Circular No. 741, offering 2% Treasury Bonds of 1952-54. Circular No. 755, offering 22% Treasury Bonds of 1966-71, and Circular No. 756, offering 2% Treasury Bonds of 1952–54, will also contain similar provisions.

Prior to the above amendment this sentence was amended to read as follows, by Amendment 6, 1944 Department Circular 530, 5th Revision, June 12, 1944, 9 F.R. 6331:

Bonds of these two series may also be registered in the names of fiduciaries, corporations, associations or partnerships, except that they may be registered in the names of commercial banks, which are defined for this purpose as those accepting demand deposits, only to the extent and under the conditions set forth in § 315.9 (c) hereof.

*

Subpart D-Limitations on Holdings

§ 315.9 Amount which may be held.

(c) Series F and G-$50,000 (issue price) for the calendar year 1941, and $100,000 (issue price) for each calendar year thereafter, of either series or of the combined aggregate of both: Provided, however, That as to bonds of these series originally issued on or after January 1, 1944, the amount held by a commercial bank holding savings deposits and issuing time certificates of deposit (as each is defined in Regulation Q of the Board of Governors of the Federal Reserve System) shall not in any case exceed $100,000 (issue price) or 20 percent of such time certificates of deposit (but only those issued in the names of individuals and of corporations, associations, and other organizations not operated for profit) and savings deposits as shown on the bank's books as of the date of the most recent call statement required by the supervising authorities prior to the date of acquisition of such savings bonds, whichever is less; and Provided further, That the amount of savings bonds of Series F and G originally issued on or after January 1, 1944, held by a commercial bank together with 22 percent Treasury Bonds of 1965-70, subscribed for under Treasury Department Circulars Nos. 729 and 740, 21⁄4 percent Treasury Bonds of 1956-59, subscribed for under Treasury Department Circular No. 730, and 2 percent Treasury Bonds of 1952-54, subscribed for under Treasury Department Circular No. 741, shall not exceed in the aggregate $400,000, or 20 percent of such savings deposits and time certificates of deposit of such banks as above defined, whichever is less. [Paragraph (c) amended June 12, 1944, 9 F.R. 6331]

[Preceding paragraph, in small type, superseded by following paragraph during period covered by this Supplement]

(c) Series F and G-$50,000 (issue price) for the calendar year 1941, and $100,000 (issue price) for each calendar year thereafter, of either series or of the combined aggregate of both, except that, in the case of commercial banks authorized to acquire such bonds in accordance with § 315.5, the limitation shall be such as may have been or may

hereafter be provided specifically in official circulars governing the offering of other Treasury securities, but in no event in excess of $100,000 (issue price) for any calendar year. [Paragraph (c) amended Nov. 17, 1944, 9 F.R. 14010]

Subpart H-General Payment and
Redemption Provisions

NOTE: 1944 1st Supplement to Department Circular 530, 5th Revision, Sept. 5, 1944, effective Oct. 2, 1944, 9 FR. 10845, provides as follows:

Payment at banks and trust companies. Notwithstanding the foregoing provisions of this subpart, the provisions of Treasury Department Circulars Nos. 529, 554, 571, 596, and 653, all as supplemented, amended, or revised, and any instructions on the bonds, an individual (natural person) whose name is inscribed on the face of a bond of Series A, B, C, D, or E, either as owner or coowner in his own right, may present such bond (unless marked "duplicate") to any incorporated bank or trust company which has qualified as a paying agent under the provisions of Department Circular No. 750, dated September 5, 1944, and upon identification to the satisfaction of such paying agent and upon signing the request for payment, may receive immediate payment for the bond at the current redemption value if presented prior to maturity, or at full maturity value if presented at or after maturity. No charge will be made to the owner.

Payment at qualified banks or trust companies is confined to bonds of Series A, B, C, D, and E and will be made only to a person named on the face of the bond as owner or coowner in his own right. Redemption of bonds of Series F and G, and partial redemption of bonds of any series, may not be effected at incorporated banks or trust. companies.

The provisions of this supplement do not supersede the procedure heretofore established for the redemption of savings bonds, which will continue in full force and effect. However, they provide certain additional facilities for the redemption of savings bonds, which may be availed of by owners concerned, under the conditions set forth herein and when offered by qualified banks and trust companies.

Subpart K-Two Names; Coownership Form

§ 315.32 Payment or reissue. A savings bond registered in the names of two persons as coowners in the form "John A. Jones or Mrs. Mary C. Jones", will be paid or reissued as follows:

(a) Payment during the lives of both coowners. During the lives of both co