31 CFR § 240.16 - Checks Issued To Minor Payees. - Law.Cornell.Edu

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  1. LII
  2. Electronic Code of Federal Regulations (e-CFR)
  3. Title 31—Money and Finance: Treasury
  4. Subtitle B—Regulations Relating to Money and Finance
  5. CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY
  6. SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE
  7. PART 240—INDORSEMENT AND PAYMENT OF CHECKS DRAWN ON THE UNITED STATES TREASURY
  8. Indorsement of Checks
  9. § 240.16 Checks issued to minor payees.
31 CFR § 240.16 - Checks issued to minor payees.
  • CFR
prev | next § 240.16 Checks issued to minor payees.

(a) Checks in payment of principal and/or interest on U.S. securities that are issued to minors may be indorsed by:

(1) Either parent with whom the minor resides; or

(2) If the minor does not reside with either parent, by the person who furnishes the minor's chief support.

(b) The parent or other person indorsing on behalf of the minor must present with the check the indorser's signed statement giving the minor's age, and stating that the payee either resides with the parent or receives his or her chief support from the person indorsing on the minor's behalf and that the proceeds of the check will be used for the minor's benefit.

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