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Code · CFR · Title 12 — Banks and Banking · Part 1249 — Book-Entry Procedures · § 1249.16

§ 1249.16. Withdrawal of Eligible Book-entry Enterprise Securities for conversion to definitive form.

121 words·~1 min read·/us/cfr/t12/s§ 1249.16·

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(a)Eligible Book-entry Enterprise Securities may be withdrawn from the Book-entry System by requesting delivery of like Definitive Enterprise Securities.
(b)A Federal Reserve Bank shall, upon receipt of appropriate instructions to withdraw Eligible Book-entry Enterprise Securities from book-entry in the Book-entry System, convert such securities into Definitive Enterprise Securities and deliver them in accordance with such instructions. No such conversion shall affect existing interests in such Enterprise Securities.
(c)All requests for withdrawal of Eligible Book-entry Enterprise Securities must be made prior to the maturity or date of call of the securities.
(d)Enterprise Securities which are to be delivered upon withdrawal may be issued in either registered or bearer form, to the extent permitted by the applicable Securities Documentation.
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