§ 342.5. Limitations.
119 words·~1 min read·
/us/cfr/t31/s§ 342.5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Purchases---(1) Payroll savings plans. Under a payroll savings plan, withholdings for notes could not exceed the ratio of \$1.08 for the notes to \$1 for the Series E bonds and could not exceed \$20.25 per weekly pay period, or \$40.50 per biweekly or semi-monthly pay period, or \$81 per monthly pay period.
(2)Others. In combination purchases of notes and Series E bonds, other than under a payroll savings plan, purchases of notes could not exceed \$350 (face amount) a quarter, and in no event could the annual limitation of \$1,350 (face amount) be exceeded.
(b)Holdings. The face amount of savings notes originally issued to any one person during any one calendar year, was limited to \$1,350.