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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 31 - Money and Finance: Treasury |
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Subtitle B - Regulations Relating to Money and Finance |
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Chapter II - Fiscal Service, Department of the Treasury |
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SubChapter A - Bureau of the Fiscal Service |
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Part 357 - Regulations Governing Book-Entry Treasury Bonds, Notes and Bills Held in Treasury/Reserve Automated Debt Entry System (Trades) and Legacy Treasury Direct |
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Subpart B - Treasury/Reserve Automated Debt Entry System (TRADES) |
§ 357.15 - How can a debtor's interest in a Security Entitlement be reached by creditors?
Latest version.
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§ 357.15 How can a debtor's interest in a Security Entitlement be reached by creditors?
(a) The interest of a debtor may be reached by creditors only by legal process upon the Securities Intermediary with whom the debtor's securities account is maintained. Exception: If a Security Entitlement is maintained in the name of a secured party, the debtor's interest may be reached by legal process upon the secured party.
(b) These regulations do not state whether a Federal Reserve Bank is required to honor an order or other notice of attachment in any particular case or class of cases.