31 CFR 357.15 - How can a debtor's interest in a Security Entitlement be reached by creditors?

Regulations last checked for updates: May 16, 2024

Title 31 - Money and Finance: Treasury last revised: May 10, 2024

View all text of Subpart B [§ 357.10 - § 357.15]

§ 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.

authority: 31 U.S.C. chapter 31; 5 U.S.C. 301; 12 U.S.C. 391.

source: 51 FR 18265, May 16, 1986, unless otherwise noted.

cite as: 31 CFR 357.15