TITLE 31 - MONEY AND FINANCE: TREASURY

SUBTITLE B - REGULATIONS RELATING TO MONEY AND FINANCE

CHAPTER V - OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

PART 515 - CUBAN ASSETS CONTROL REGULATIONS

subpart e - LICENSES, AUTHORIZATIONS, AND STATEMENTS OF LICENSING POLICY

515.552 - Proceeds of insurance policies.

  (a) Specific licenses are issued authorizing payment of the proceeds of blocked life insurance policies issued on the life of a Cuban national who died in Cuba after July 8, 1963, to certain beneficiaries licensed as unblocked nationals pursuant to 515.505, as follows: (1) The applicant is a permanent resident of the United States or the authorized trade territory and is not a specially designated national; and (2) No interest on the part of a designated national not licensed as an unblocked national exists in that portion of the funds to which the applicant is entitled.

  (b) Applications for specific licenses under this section must include all of the following information: (1) Proof of permanent residence in the United States or the authorized trade territory, to be established by the submission of documentation issued by relevant government authorities that must include at least two of the following documents: (i) Passport; (ii) Voter registration card; (iii) Permanent resident alien card; or (iv) National identity card.

Other documents tending to show residency, such as income tax returns, may also be submitted in support of government documentation, but will not suffice in and of themselves; (2) Proof of entitlement under the insurance policy to be established by a copy of the policy and an affidavit from an appropriate officer of a recognized insurance company acknowledging the legitimacy of the beneficiary's claim and the amount of the payment; and (c) Any document provided pursuant to this section that is not written in the English language must be accompanied by a translation into English, as well as a certification by the translator that he is not an interested party to the proceeding, is qualified to make the translation, and has made an accurate translation of the document in question.

[54 FR 5234, Feb. 2, 1989]