Lea v. United States

Issue: (1) Whether the federal statute, regulations and contractual provisions governing the transfer and redemption of U.S. savings bonds preempt the state of Arkansas from obtaining ownership of matured but unredeemed bonds through a statute providing for the escheat of title to the state; (2) whether the federal statute, regulations and contractual provisions governing the transfer and redemption of U.S. savings bonds require the U.S. Department of the Treasury to redeem matured savings bonds that are owned by a state pursuant to a valid judgment of escheatment but that the state cannot identify by serial number without Treasury"s assistance; and (3) whether the interpretation of federal law adopted by the U.S. Court of Appeals for the Federal Circuit below results in an uncompensated taking of property in violation of the Fifth Amendment"s takings clause.