1. Regulations
  2. title 31
  3. chapter V
  4. part 590
  5. subpart D
  6. § 590.410

View all text of Subpart D [§ 590.401 - § 590.411]

§ 590.410 - Setoffs prohibited.

A setoff against blocked property (including a blocked account), whether by a U.S. financial institution or other U.S. person, is a prohibited transfer under § 590.201 if effected after the effective date.

AUTHORITY: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 13581, 76 FR 44757, 3 CFR, 2011 Comp., p. 260; E.O. 13863, 84 FR 10255, 3 CFR, 2019 Comp., p. 267.

SOURCE: 87 FR 3209, Jan. 21, 2022, unless otherwise noted.

CITE AS: 31 CFR 590.410