31 CFR 541.409 - Setoffs prohibited.

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Title 31: Money and Finance: Treasury

Subtitle B: Regulations Relating to Money and Finance (Continued)

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

PART 541: ZIMBABWE SANCTIONS REGULATIONS

Subpart D: Interpretations

541.409 - 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 ? 541.201 if effected after the effective date.

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