§598.404. Setoffs prohibited.
31 C.F.R. § 598.404
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 § 598.202 if effected after the effective date.
Notes, amendments, and revision history
Amendments
[86 FR 26669, May 17, 2021]
Authority
Authority: 3 U.S.C. 301; 21 U.S.C. 1901-1908; 31 U.S.C. 321(b); Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note).
Source
Source: 65 FR 41336, July 5, 2000, unless otherwise noted.
Amendments
[86 FR 26669, May 17, 2021]