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Current as of October 02, 2022 | Updated by FindLaw Staff
Pursuant to § 552.201, no debits may be made to a blocked account to pay obligations to U.S. persons or other persons, except as authorized by or pursuant to this part.
Note 1 to § 552.407. See also § 552.502(e), which provides that no license or other authorization contained in or issued pursuant to this part authorizes transfers of or payments from blocked property or debits to blocked accounts unless the license or other authorization explicitly authorizes the transfer of or payment from blocked property or the debit to a blocked account.
Cite this article: FindLaw.com - Code of Federal Regulations Title 31. Money and Finance–Treasury § 31.552.407 Payments from blocked accounts to satisfy obligations prohibited - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-31-money-and-finance-treasury/cfr-sect-31-552-407/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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