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FEDERAL RESERVE BOARD X-4767 WASHINGTON ADDRESS OFFICIAL. CORRESPONDENCE TO THE: FEDERAl. RESERVE BOARD January 10, 1927. SU3J~CT: Execution of form of demand for ')ayment on adjusted service certificates offered as collateral for loans. :Dear Sir: The Board's attention has been called to the fact t:1at the forr,1 of demand for :9aJ11lent on a number of adjusted service certificates has been completely e~ecuted ·oy beneficiaries although the veterans to whom su¢11 certificates were issued are still living, and that batik• are inquiring whether the execution of such demand for payment prevents the veterans naxned in the certificates f:rorr. obtaining loans, and, if so, what acrtion should be ta::en to remedy the situation. The 3oard has refel'red. this question to the United States Veterans• Bl~eau which has replied as follows: 11 '\'ii th reference to your letter of Ja11uary 4, 1927, inquiring as to the effect w!:tich the execution of Demand for Payment on the certificate will have upon its value as collateral for the purpose of securing a loan, I wish to advise you that while the form of Demand for Payment should not be executed it will not affect the use of the certificate as collateral in any way , 11 Very truly yours, D. ~. Crissi~ger, Governor. TO GOVE..'=l}TORS OF ALL F. R. E.A:.."TTCS.
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