---
kind: "section"
citation: "31 C.F.R. § 328.4"
title: "31"
number: "328.4"
heading: "Effect of restrictive endorsements."
url: "https://uscodex.org/cfr/31/328.4"
---

# §328.4. Effect of restrictive endorsements.


Bearer securities bearing restrictive endorsements as herein provided will thereafter be nonnegotiable and payment, redemption, or exchange will be made only as provided in such endorsements.


## Notes

### Authority

Authority: R.S. 3706; 40 Stat. 288, 502, 1309; 46 Stat. 20; 48 Stat. 343; 49 Stat. 20; 56 Stat. 189; 73 Stat. 622; 85 Stat. 5, 74 (31 U.S.C. 738a, 739, 752, 752a, 753, 754, 754a and 754b); and 5 U.S.C. 301.

### Source

Source: 38 FR 10682, Apr. 30, 1973, unless otherwise noted.