---
kind: "section"
citation: "31 C.F.R. § 316.10"
title: "31"
number: "316.10"
heading: "Payment or redemption."
url: "https://uscodex.org/cfr/31/316.10"
---

# §316.10. Payment or redemption.

- (a) **General.** A Series E bond may be redeemed in accordance with its terms at the appropriate redemption value shown in the applicable table described in [paragraph (f)](/cfr/31/316.8.md?p=f) of § 316.8. The redemption values of bonds in the denomination of $100,000 are not shown in the tables. However, the redemption value of a bond in that denomination will be equal to ten times the redemption value of a $10,000 bond of the same issue date. A bond in a denomination higher that $25 (face amount) may be redeemed in part but only in the amount of an authorized denomination or multiple thereof.
- (b) **Federal Reserve Banks and Branches and United States Treasury.** Owners of Series E bonds may obtain payment upon presentation and surrender of the bonds to a Federal Reserve Bank or Branch referred to in [§ 316.12](/cfr/31/316.12.md) or to the Department of the Treasury with the request for payment on the bonds duly executed and certified in accordance with the governing regulations.
- (c) **Incorporated banks, savings and loan associations and other financial institutions.**
  - (1) A financial institution qualified as a paying agent under the provisions of [31 CFR part 321](/cfr/31/part321.md), also published as Department of the Treasury Circular, Fiscal Service Series No. 750, as revised, will pay the current redemption value of a Series E bond presented for payment by an individual whose name is inscribed on the bond as owner or coowner, provided:
    - (i) The bond is in order for payment; and
    - (ii) The presenter establishes his or her identity to the satisfaction of the agent, in accordance with Treasury instructions and identification guidelines, and signs and completes the requests for payment.
  - (2) A paying agent may (but is not required to) pay a Series E bond, at current redemption value, upon the request of a legal representative designated in the bond's registration by name and capacity, a court-appointed legal representative of the last-deceased registrant's estate, or a beneficiary, if he or she survives the owner, provided:
    - (i) The bond is in order for payment; and
    - (ii) The presenter establishes his or her identity to the satisfaction of the agent, in accordance with Treasury instructions, indentification guidelines, and otherwise complies with evidentiary requirements.

## Notes

### Amendments

[57 FR 14276, Apr. 17, 1992, as amended at 59 FR 10535, Mar. 4, 1994]

### Authority

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

### Source

Source: 57 FR 14276, Apr. 17, 1992, unless otherwise noted.

### Amendments

[57 FR 14276, Apr. 17, 1992, as amended at 59 FR 10535, Mar. 4, 1994]