31 CFR 536.404 - Setoffs prohibited.

Regulations last checked for updates: Nov 25, 2024

Title 31 - Money and Finance: Treasury last revised: Nov 18, 2024

View all text of Subpart D [§ 536.401 - § 536.410]

§ 536.404 - Setoffs prohibited.

A setoff against blocked property (including a blocked account), whether by a U.S. bank or other U.S. person, is a prohibited transfer under § 536.201 if effected after the effective date.

authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651,1701; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 12978, 60 FR 54579, 3 CFR, 1995 Comp., p. 415; E.O. 13286, 68 FR 10619, 3 CFR, 2003 Comp., p. 166

source: 62 FR 9960, Mar. 5, 1997, unless otherwise noted.

cite as: 31 CFR 536.404