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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 31 - Money and Finance: Treasury |
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Subtitle B - Regulations Relating to Money and Finance |
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Chapter V - Office of Foreign Assets Control, Department of the Treasury |
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Part 538 - Sudanese Sanctions Regulations |
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Subpart D - Interpretations |
§ 538.404 - Setoffs prohibited.
Latest version.
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§ 538.404 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 § 538.201 if effected after the effective date.