---
kind: "section"
citation: "31 C.F.R. § 515.404"
title: "31"
number: "515.404"
heading: "Transactions between principal and agent."
url: "https://uscodex.org/cfr/31/515.404"
---

# §515.404. Transactions between principal and agent.


A transaction between any person within the United States and any principal, agent, home office, branch, or correspondent, outside the United States of such person is a transaction prohibited by [§ 515.201](/cfr/31/515.201.md) to the same extent as if the parties to the transaction were in no way affiliated or associated with each other.


## Notes

### Authority

Authority: 22 U.S.C. 2370(a), 6001-6010, 7201-7211; 31 U.S.C. 321(b); 50 U.S.C. 4301-4341; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); 22 U.S.C. 6021-6091; Pub. L. 105-277, 112 Stat. 2681; Pub. L. 111-8, 123 Stat. 524; Pub. L. 111-117, 123 Stat. 3034; E.O. 9989, 13 FR 4891, 3 CFR, 1943-1948 Comp., p. 748; Proc. 3447, 27 FR 1085, 3 CFR, 1959-1963 Comp., p. 157; E.O. 12854, 58 FR 36587, 3 CFR, 1993 Comp., p. 614.

### Source

Source: 28 FR 6974, July 9, 1963, unless otherwise noted.