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§313.21. Definitions.

12 C.F.R. § 313.21

(a)
Administrative offset means withholding funds payable by the United States to, or held by the United States for, a person to satisfy a debt.
(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 any state or local government shall be excluded.
Notes, amendments, and revision history

Authority

Authority: 5 U.S.C. 5514; 12 U.S.C. 1818(i), 1819(a); Pub. L. 104-134, 110 Stat. 1321 (31 U.S.C. 3701, 3711, 3716).

Source

Source: 67 FR 48527, July 25, 2002, unless otherwise noted.