[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR306.76]

[Page 175-176]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 306_GENERAL REGULATIONS GOVERNING U.S. SECURITIES--Table of Contents
 
     Subpart I_Assignments by or in Behalf of Trustees and Similar 
                               Fiduciaries
 
Sec.  306.76  Fiduciaries acting as a unit.

    Securities registered in the name of or assigned to a board, 
committee or other body authorized to act as a unit for any public or 
private trust estate may be assigned for any authorized transaction by 
anyone authorized to act in behalf of such body. Except as otherwise 
provided in this section, the assignments must be supported by a copy of 
a resolution adopted by the body, properly certified under its seal, or, 
if none, sworn to by a member of the body having access to its records. 
(Form PD 2495 may be used.) If the person assigning is designated in the 
resolution by title only, his incumbency must be duly certified by 
another member of the body. (Form PD 2446 may be used.) If the 
fiduciaries of any trust estate are empowered to act as a unit, although 
not designated as a board, committee or other body, securities 
registered in their names or assigned to them as such, or in their 
titles without their names, may be assigned by anyone authorized by the 
group to act in its behalf. Such assignments may be supported by a sworn 
copy of a resolution adopted by the

[[Page 176]]

group in accordance with the terms of the trust instrument, and proof of 
their authority to act as a unit may be required. As an alternative, 
assignments by all the fiduciaries, supported by proof of their 
incumbency, if not named on the securities, will be accepted.

[38 FR 7078, Mar. 15, 1973; 38 FR 10004, Apr. 23, 1973]