---
kind: "section"
citation: "31 C.F.R. § 353.8"
title: "31"
number: "353.8"
heading: "Chain letters prohibited."
url: "https://uscodex.org/cfr/31/353.8"
---

# §353.8. Chain letters prohibited.


The issuance of bonds in the furtherance of a chain letter or pyramid scheme is considered to be against the public interest and is prohibited.


## Notes

### Authority

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105, 3125.

### Source

Source: 44 FR 76441, Dec. 26, 1979, unless otherwise noted.