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Title 17: Commodity and Securities Exchanges
CHAPTER II: SECURITIES AND EXCHANGE COMMISSION
PART 204: RULES RELATING TO DEBT COLLECTION
Subpart A: Administrative Offset
204.2 - Definitions.
(a) Administrative offset as defined in 31 U.S.C. 3701(a)(1) means withholding funds payable by the United States (including funds payable by the United States on behalf of a State government) to, or held by the United States for, a person to satisfy a claim.
(b) Person includes a natural person or persons, profit or nonprofit corporation, partnership, association, trust, estate, consortium, or other entity which is capable of owing a debt to the United States Government except that agencies of the United States, or of any State or local government shall be excluded.
[58 FR 64370, Dec. 7, 1993, as amended at 66 FR 54130, Oct. 26, 2001]
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