§536.503. Payments and transfers to blocked accounts in U.S. financial institutions.
31 C.F.R. § 536.503
Any payment of funds or transfer of credit or other financial or economic resources or assets into a blocked account in a U.S. financial institution is authorized, provided that a transfer from a blocked account pursuant to this authorization may only be made to another blocked account held in the same name on the books of the same U.S. financial institution.
This section does not authorize any transfer from a blocked account within the United States to an account held outside the United States.
Notes, amendments, and revision history
Amendments
[62 FR 9960, Mar. 5, 1997, as amended at 62 FR 45107, Aug. 25, 1997]
Authority
Authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601 et seq., 1701 et seq.; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 12978, 60 FR 54579, 3 CFR, 1995 Comp., p. 415; E.O. 13286, 68 FR 10619, 3 CFR, 2003 Comp., p. 166.
Source
Source: 62 FR 9960, Mar. 5, 1997, unless otherwise noted.
Amendments
[62 FR 9960, Mar. 5, 1997, as amended at 62 FR 45107, Aug. 25, 1997]