Source: https://www.law.cornell.edu/cfr/text/31/306.56
Timestamp: 2018-03-23 17:19:22
Document Index: 436882588

Matched Legal Cases: ['art 306', '§ 306', '§ 306', '§ 3101', '§ 3101', '§ 3102', '§ 3103', '§ 3104', '§ 3105', '§ 3106', '§ 3107', '§ 3108', '§ 3109', '§ 3110', '§ 3111', '§ 3112', '§ 3113', '§ 3121', '§ 3122', '§ 3123', '§ 3124', '§ 3125', '§ 3126', '§ 3127', '§ 3128', '§ 3129', '§ 3123', '§ 3125']

31 CFR 306.56 - Assignment of securities registered in the names of or assigned to two or more persons. | US Law | LII / Legal Information Institute
CFR › Title 31 › Subtitle B › Chapter II › Subchapter A › Part 306 › Subpart G › Section 306.56
31 CFR 306.56 - Assignment of securities registered in the names of or assigned to two or more persons.
§ 306.56 Assignment of securities registered in the names of or assigned to two or more persons.
(a)Transfer or exchange. Securities registered in the names of or assigned to two or more persons may be transferred during the lives of all the joint owners only upon assignments by all or on their behalf by authorized representatives. Upon proof of the death of one, the Department will accept an assignment by or in behalf of the survivor or survivors, unless the form of registration or assignment includes words which precludes the right of survivorship. 9 In the latter case, in addition to assignment by or in behalf of the survivor or survivors, an assignment in behalf of the decedent's estate will be required.
9 See § 306.11(a) (2) for forms of registration expressing or precluding survivorship.
(b)Advance refunding or prerefunding offers. No assignments are required for exchange of securities registered in the names of or assigned to two or more persons if the securities to be received in the exchange are to be registered in the same names and form. If securities in a different form are to be issued, all persons named must assign, except that in case of death paragraph (a) of this section shall apply.
(c)Redemption or redemption-exchange -
(1)Alternative registration or assignment. Securities registered in the names of or assigned to two or more persons in the alternative, for example, “John B. Smith or Mrs. Mary J. Smith” or “John B. Smith or Mrs. Mary J. Smith or the survivor,” may be assigned by one of them at maturity or upon call, for redemption or redemption-exchange, for his own account or otherwise, whether or not the other joint owner or owners are deceased.
(2)Joint registration or assignment. Securities registered in the names of or assigned to two or more persons jointly, for example, “John B. Smith and Mrs. Mary J. Smith,” or “John B. Smith and Mrs. Mary J. Smith as tenants in common,” or “John B. Smith and Mary J. Smith as partners in community,” may be assigned by one of them during the lives of all only for redemption at maturity or upon call, and then only for redemption for the account of all. No assignments are required for redemption-exchange for securities to be registered in the same names and forms as appear in the registration or assignment of the securities surrendered. Upon proof of the death of a joint owner, the survivor or survivors may assign securities so registered or assigned for redemption or redemption-exchange for any account, except that, if words which preclude the right of survivorship 9 appear in the registration or assignment, assignment in behalf of the decedent's estate also will be required.
[ 38 FR 7078, Mar. 15, 1973, as amended at 64 FR 38126, July 15, 1999]
§ 3101 - Public debt limit
§ 3101A - Presidential modification of the debt ceiling
§ 3102 - Bonds
§ 3103 - Notes
§ 3104 - Certificates of indebtedness and Treasury bills
§ 3105 - Savings bonds and savings certificates
§ 3106 - Retirement and savings bonds
§ 3107 - Increasing interest rates and investment yields on retirement bonds
§ 3108 - Prohibition against circulation privilege
§ 3109 - Tax and loss bonds
§ 3110 - Sale of obligations of governments of foreign countries
§ 3111 - New issue used to buy, redeem, or refund outstanding obligations
§ 3112 - Sinking fund for retiring and cancelling bonds and notes
§ 3113 - Accepting gifts
§ 3121 - Procedure
§ 3122 - Banks and trust companies as depositaries
§ 3123 - Payment of obligations and interest on the public debt
§ 3124 - Exemption from taxation
§ 3125 - Relief for lost, stolen, destroyed, mutilated, or defaced obligations
§ 3126 - Losses and relief from liability related to redeeming savings bonds and notes
§ 3127 - Credit to officers, employees, and agents for stolen Treasury notes
§ 3128 - Proof of death to support payment
§ 3129 - Appropriation to pay expenses
§ 3123
§ 3125