31 CFR 569.405 - 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 [§ 569.401 - § 569.406]

§ 569.405 - 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 § 569.201 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. 13894, 84 FR 55851, 3 CFR, 2019 Comp., p. 382

source: 85 FR 34510, June 5, 2020, unless otherwise noted.

cite as: 31 CFR 569.405