The emergency procedures are effective immediately for paying agents and owners in those areas of Arkansas affected by the tornadoes. These procedures will remain in effect through February 28, 1999. Public Debt's action waives the normal six-month minimum holding period for Series EE and Series I savings bonds presented to authorized paying agents for redemption by residents of the affected area.
Most financial institutions serve as paying agents for savings bonds.
The hardest hit counties in Arkansas were Clay, Independence, Saline, St. Francis and White. Other affected counties include Clark, Craighead, Faulkner, Greene, Hot Spring, Jefferson, Lawrence, Lonoke, Miller, Monroe, Phillips and Prairie. Should additional counties be declared disaster areas the emergency procedures for savings bonds owners will go into effect for those areas. The replacement of bonds lost or destroyed will also be expedited by Public Debt. Bond owners should include as much information as possible about the lost bonds on the form.