---
kind: "section"
citation: "31 C.F.R. § 315.16"
title: "31"
number: "315.16"
heading: "Pledge."
url: "https://uscodex.org/cfr/31/315.16"
---

# §315.16. Pledge.

- (a) **General.** A savings bond may not be hypothecated, pledged, or used as security for the performance of an obligation, except as provided in [paragraph (b)](#b) of this section.
- (b) **Pledge under Treasury Circular No. 154.** A bond may be pledged by the registered owner in lieu of surety under the provisions of Department of the Treasury Circular No. 154, current revision ([31 CFR part 225](/cfr/31/part225.md)), if the bond approving officer is the Secretary of the Treasury. In this case, an irrevocable power of attorney shall be executed authorizing the Secretary of the Treasury to request payment.

## Notes

### Authority

Authority: 31 U.S.C. 3105 and 5 U.S.C. 301.

### Source

Source: 45 FR 64091, Sept. 26, 1980, unless otherwise noted.