22 USC 8725 - Liability of parent companies for violations of sanctions by foreign subsidiaries

U.S Code last checked for updates: Nov 22, 2024

§ 8725.

Liability of parent companies for violations of sanctions by foreign subsidiaries

(a)

Definitions

In this section:

(1)

Entity

(2)

Own or control

The term “own or control” means, with respect to an entity—

(A)

to hold more than 50 percent of the equity interest by vote or value in the entity;

(B)

to hold a majority of seats on the board of directors of the entity; or

(C)

to otherwise control the actions, policies, or personnel decisions of the entity.

(b)

Prohibition

(c)

Civil penalty

(d)

Applicability

(Pub. L. 112–158, title II, § 218, Aug. 10, 2012, 126 Stat. 1234.)

cite as: 22 USC 8725