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Title 38 Part 11 → §11.109

Title 38 → Chapter I → Part 11 → §11.109

Electronic Code of Federal Regulations e-CFR

Title 38 Part 11 → §11.109

e-CFR data is current as of February 19, 2020

Title 38Chapter IPart 11 → §11.109


Title 38: Pensions, Bonuses, and Veterans' Relief
PART 11—LOANS BY BANKS ON AND PAYMENT OF ADJUSTED SERVICE CERTIFICATES


§11.109   Settlement of unmatured adjusted service certificates.

Where an application for final settlement of an adjusted service certificate is received in the Department of Veterans Affairs prior to the maturity date of the certificate, payment will be made under the terms of the Adjusted Compensation Payment Act, 1936. This act provides for payment of the amount due on the certificate, after deducting any unpaid loans with interest through September 30, 1931, in adjusted service bonds. These bonds will be issued by the Treasury Department in denominations of $50, in the name of the veteran only, and will bear interest at the rate of 3 percent per annum from June 15, 1936, to June 15, 1945. Any excess amount not sufficient to purchase a $50 bond will be paid by check.

[19 FR 5087, Aug. 12, 1954]