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FEDERAL RESERVE BANK OF DALLAS F I S C A L A G E N T O F T H E U N IT E D S T A T E S Dallas, Texas, August 24, 1948 ARMED FORCES LEAVE BOND REGULATIONS To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: For your information there is reproduced on the reverse side hereof a copy o f the First Amendment, dated August 6, 1948, to Treasury Department Circular No. 793 Revised, dated August 1, 1947, concerning the right to payment upon death o f an owner o f an Armed Forces Leave Bond and payment to survivors. Additional copies of this amendment will be furnished upon request. Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) REGULATIONS GOVERNING ARMED FORCES LEAVE BONDS 1948 First Amendment to department Circular No. 793 Revised, dated August 1, 1947 Fiscal Service Bureau o f the Public Debt T reasury D epartment Office of the S ecretary Washington, August 6,1948 To M embers of the and F ormer M embers of the A rmed F orces U nited States and Others Concerned : Pursuant to the authority contained in the Armed Forces Leave Act o f 1946, as amended (60 Stat. 963, 37 U. S. C. 32-37; 61 Stat. 510; Pub. Law 710, 80th Cong.), and the Second Liberty Bond Act, as amended, Section 324.10 and Section 324.11 (a) o f Department Circular No. 793, 'Revised, dated August 1, 1947 (31 CFR 1947 Supp., Part 324), are amended and revised to read as follow s: 324.10. Right to payment on death o f owner.— Upon the death o f an owner o f an Armed Forces Leave Bond the bond becomes payable only to his survivors in the following ord er: (a) Surviving w ife or husband and children, if any, in equal shares; (b ) I f such owner leaves no surviving spouse or children, then in equal shares to such owner’s surviving parents, if any; (c) I f such owner leaves no surviving spouse, child, or parent, then in equal shares to such owner’s surviving brothers and sisters, if any; (d) I f such owner leaves no surviving spouse, child, parent, brother, or sister, then in equal shares to the surviving child or children, if any, o f such owner’s deceased brothers and sisters. If there are no such survivors the bond will be retired and the amount covered into the general fund o f the Treasury. Accordingly, payment will not be made to an executor or administrator o f the estate o f a deceased registered owner, and if a bond should come into the possession o f such an executor or administrator, or other person not a survivor, following the death of the owner it should immediately be delivered to one o f the survivors, if an y; otherwise forwarded to the Division o f Loans and Currency, Washington 25, D. C., with a signed statement that there are no known survivors. 324.11. Payment to survivors.— Survivors of a deceased registered owner in the order pro vided in the preceding section are entitled to receive payment of an Armed Forces Leave Bond at their option and upon application to the Secretary o f the Treasury at any time following the death o f such registered owner, whether before, upon or after maturity o f the bond. Application fo r such payment should be made on Form PD 2066, copies o f which may be obtained from any Federal Reserve Bank. See section 324.15 fo r instructions as to filing the application. (a) Definition o f survivors.— Survivors are defined in the Act as follow s: (1) “ Spouse” means a lawful w ife or husband; (2) “ Children” include (a) a legitimate child; (b) a child legally adopted; (c ) a stepchild, if, at the time o f death o f the member or form er member o f the armed forces, such stepchild is a member o f the deceased’s household; (d) an illegitimate child, but in the case o f a male member or form er male member of the armed forces only if he has been judicially ordered or decreed to contribute to such child’s support; has been judicially decreed to be the putative father of such child; or has acknowledged under oath in writing that he is the father of such child; and (e ) a person to whom the member or form er member of the armed forces at the time of death stands in loco parentis and so stood for not less than twelve months prior to the date o f death; (3) “ Parent” includes father and mother, grandfather and grandmother, stepfather and stepmother, father and mother through adoption, and persons who, for a period o f not less than one year prior to the death o f the member or form er member o f the armed forces, stood in loco parentis to such member or form er m em ber: Provided, That not more than two parents may receive the benefits provided under this Act and prefer ence shall be given to the parent or parents, not exceeding two, who actually exer cised parental relationship at the time o f or most nearly prior to the date of the death o f such member or form er member o f the armed fo rce s; and (4) “ Brother” and “ sister” include brothers and sisters o f the half blood as well as those o f the whole blood, stepbrothers, and stepsisters, and brothers and sisters through adoption. John W. Snyder Secretary of the Treasury
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