Nomination for Relief/Savings Bonds: appointing competent nominees secures entitlement and payment transmission on investor death. Nomination for Relief and Savings Bonds permits a sole holder or all joint holders to appoint one or more competent persons to receive the bond and payments on the holder(s)' death, subject to making the nomination before maturity; surviving nominees succeed if others die. Nominations may be varied or cancelled by fresh nomination and notice to the designated branch; minors may have a non minor appointed to receive proceeds; separate nominations may be made per Bond Ledger Account; agency banks must acknowledge nominations; nominations are barred where the BLA is held by an adult for a minor or held in a fiduciary capacity; a nomination cancels upon registered substitution/cancellation or transfer of the certificate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nomination for Relief/Savings Bonds: appointing competent nominees secures entitlement and payment transmission on investor death.
Nomination for Relief and Savings Bonds permits a sole holder or all joint holders to appoint one or more competent persons to receive the bond and payments on the holder(s)' death, subject to making the nomination before maturity; surviving nominees succeed if others die. Nominations may be varied or cancelled by fresh nomination and notice to the designated branch; minors may have a non minor appointed to receive proceeds; separate nominations may be made per Bond Ledger Account; agency banks must acknowledge nominations; nominations are barred where the BLA is held by an adult for a minor or held in a fiduciary capacity; a nomination cancels upon registered substitution/cancellation or transfer of the certificate.
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