Source: http://www.law.cornell.edu/uscode/text/31/3105?quicktabs_8=1
Timestamp: 2014-12-22 04:30:49
Document Index: 663429983

Matched Legal Cases: ['§ 3105', '§ 3105', '§ 3105', '§ 1', '§ 2', '§ 745', '§ 22', '§ 6', '§ 3', '§ 1', '§ 1', '§ 101', '§ 1', '§ 3', '§ 4', '§ 4', '§ 1', '§ 22', '§ 3', '§ 3', '§ 1', '§ 22', '§ 3', '§ 289', '§ 289', '§ 1', '§ 1', '§ 745', '§ 289', 'art 306', 'art 315', 'art 316', 'art 317', 'art 321', 'art 330', 'art 332', 'art 352', 'art 353', 'art 355', 'art 356', 'art 357', 'art 358', 'art 359', 'art 360', 'art 363', 'art 370']

31 U.S. Code § 3105 - Savings bonds and savings certificates | LII / Legal Information Institute
U.S. Code › Title 31 › Subtitle III › Chapter 31 › Subchapter I › § 3105 31 U.S. Code § 3105 - Savings bonds and savings certificates
the form and amount of an issue and series;
the way in which they will be issued;
the conditions, including restrictions on transfer, to which they will be subject;
conditions governing their redemption;
their sales price and denominations;
a way to evidence payments for or on account of them and to provide for the exchange of savings certificates for savings bonds; and
the maximum amount issued in a year that may be held by one person.
The Secretary may authorize financial institutions to make payments to redeem savings bonds and savings notes. A financial institution may be a paying agent only if the institution—
is incorporated under the laws of the United States, a State, the District of Columbia, or a territory or possession of the United States;
in the usual course of business accepts, subject to withdrawal, money for deposit or the purchase of shares;
is under the supervision of a banking authority of the jurisdiction in which it is incorporated;
has a regular office to do business; and
is qualified under regulations prescribed by the Secretary in carrying out this subsection.
The Secretary may prescribe a way in which a check issued to an individual (except a trust or estate) as a refund for taxes imposed under subtitle A of the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.) may become a series E savings bond. However, a check may become a bond only if the claim for a refund is filed by the last day prescribed by law for filing the return (determined without any extensions) for the taxable year for which the refund is made. The Secretary may prescribe the time and way in which the check becomes a bond.
A bond issued under this subsection is deemed to be a series E bond issued under this section, except that the bond shall bear an issue date of the first day of the first month beginning after the close of the taxable year for which the bond is issued. The Secretary also may provide that a bond issued to joint payees may be redeemed by either payee alone.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 940; Pub. L. 97–452, § 1(6), (7),Jan. 12, 1983, 96 Stat. 2467, 2468; Pub. L. 99–514, § 2,Oct. 22, 1986, 100 Stat. 2095; Pub. L. 103–465, title VII, § 745(a),Dec. 8, 1994, 108 Stat. 5011.)
Sept. 24, 1917, ch. 56, 40 Stat. 288, § 22(a)–(d)(1st sentence); added Feb. 4, 1935, ch. 5, § 6, 49 Stat. 21; restated Feb. 19, 1941, ch. 7, § 3, 55 Stat. 7; Mar. 26, 1951, ch. 19, § 1, 65 Stat. 26; Apr. 20, 1957, Pub. L. 85–17, § 1, 71 Stat. 15; Sept. 22, 1959, Pub. L. 86–346, § 101(b), 73 Stat. 621; Dec. 1, 1969, Pub. L. 91–130, §§ 1, 2(b), 83 Stat. 272; Aug. 24, 1970, Pub. L. 91–388, § 3, 84 Stat. 830; Mar. 15, 1976, Pub. L. 94–232, § 4, 90 Stat. 217; Apr. 2, 1979, Pub. L. 96–5, § 4, 93 Stat. 8; Oct. 3, 1980, Pub. L. 96–377, § 1, 94 Stat. 1512.
Sept. 24, 1917, ch. 56, 40 Stat. 288, § 22(h); added Apr. 11, 1943, ch. 52, § 3, 57 Stat. 63; restated Apr. 3, 1945, ch. 51, § 3, 59 Stat. 47; Oct. 17, 1968, Pub. L. 90–595, § 1, 82 Stat. 1155.
Sept. 24, 1917, ch. 56, 40 Stat. 288, § 22(j); added July 1, 1973, Pub. L. 93–53, § 3(a), 87 Stat. 135.
In subsection (e)(2), the words “Except as provided in paragraph (2)” are omitted as unnecessary. The words “is deemed to be” are substituted for “shall be treated for all purposes of law as” because a legal fiction is intended. The words “calendar” and “In the case of . . . under this subsection” are omitted as surplus.
Revised Section Source (U.S. Code) Source (Statutes at Large) 3105(b)(1)
Sept. 3, 1982, Pub. L. 97–248, § 289(a)(1)(A), (B), (D), 96 Stat. 571.
Sept. 3, 1982, Pub. L. 97–248, § 289(a)(1)(C), 96 Stat. 571.
1994—Subsec. (b). Pub. L. 103–465amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows:
1986—Subsecs. (a), (e)(1). Pub. L. 99–514substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”.
1983—Subsec. (b). Pub. L. 97–452, § 1(6), added par. (1) and redesignated former par. (1) as (2), in par. (2) as so redesignated, struck out provision that except as provided in former par. (2), the interest rate on, and the issue price of, savings bonds and savings certificates and the conditions under which they might be redeemed might not yield more than 5.5 percent a year compounded semiannually, struck out former par. (2) which provided that the Secretary with the President’s approval might fix the yield on savings bonds at any percent per year compounded semiannually, but that total increases in a six-month period might not exceed one percent a year compounded semiannually, redesignated provisions of par. (3) as subpars. (A) and (B), and, in subpar. (B), as so redesignated, substituted provisions that series E and H savings bonds earning a different rate of interest before the regulations are prescribed shall earn a rate of interest consistent with par. (1) for provision that series E and H savings bonds earning a higher rate of interest before the regulations were prescribed would continue to earn a higher rate of interest consistent with par. (1).
Subsec. (c)(5). Pub. L. 97–452, § 1(7), struck out “(expressed in terms of the maturity value)” after “denominations”.
Pub. L. 103–465, title VII, § 745(b),Dec. 8, 1994, 108 Stat. 5011, provided that: “The amendment made by this section [amending this section] shall apply to bonds issued after October 31, 1994.”
Pub. L. 97–248, title II, § 289(b),Sept. 3, 1982, 96 Stat. 57, provided that for a savings bond issued before the 30th day after Sept. 3, 1982, for purposes of sections 757c and 757c–2 of former Title 31, the minimum yield for the period held is the scheduled investment yield for the period in effect on the 30th day.
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.31 CFR - Money and Finance: Treasury31 CFR Part 306 - GENERAL REGULATIONS GOVERNING U.S. SECURITIES31 CFR Part 315 - REGULATIONS GOVERNING U.S. SAVINGS BONDS, SERIES A, B, C, D, E, F, G, H, J, AND K, AND U.S. SAVINGS NOTES31 CFR Part 316 - OFFERING OF UNITED STATES SAVINGS BONDS, SERIES E31 CFR Part 317 - REGULATIONS GOVERNING AGENCIES FOR ISSUE OF UNITED STATES SAVINGS BONDS31 CFR Part 321 - PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)31 CFR Part 330 - REGULATIONS GOVERNING PAYMENT UNDER SPECIAL ENDORSEMENT OF UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)31 CFR Part 332 - OFFERING OF UNITED STATES SAVINGS BONDS, SERIES H31 CFR Part 352 - OFFERING OF UNITED STATES SAVINGS BONDS, SERIES HH31 CFR Part 353 - REGULATIONS GOVERNING DEFINITIVE UNITED STATES SAVINGS BONDS, SERIES EE AND HH31 CFR Part 355 - REGULATIONS GOVERNING FISCAL AGENCY CHECKS31 CFR Part 356 - SALE AND ISSUE OF MARKETABLE BOOK-ENTRY TREASURY BILLS, NOTES, AND BONDS (DEPARTMENT OF THE TREASURY CIRCULAR, PUBLIC DEBT SERIES NO. 1-93)31 CFR Part 357 - REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS HELD IN TREASURY/RESERVE AUTOMATED DEBT ENTRY SYSTEM (TRADES) AND LEGACY TREASURY DIRECT31 CFR Part 358 - REGULATIONS GOVERNING BOOK-ENTRY CONVERSION OF BEARER CORPORA AND DETACHED BEARER COUPONS31 CFR Part 359 - OFFERING OF UNITED STATES SAVINGS BONDS, SERIES I31 CFR Part 360 - REGULATIONS GOVERNING DEFINITIVE UNITED STATES SAVINGS BONDS, SERIES I31 CFR Part 363 - REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT31 CFR Part 370 - ELECTRONIC TRANSACTIONS AND FUNDS TRANSFERS RELATING TO UNITED STATES SECURITIES