Code of Federal Regulations · Section

§ 599.405 — Setoffs Prohibited

31 C.F.R. § 599.405

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A setoff against blocked property (including a blocked account), whether by a U.S. financial institution or other U.S. person, is a prohibited transfer under § 599.201 if effected after the effective date.

31 C.F.R. § 599.404 31 C.F.R. § 599.406

Authorizing Statute

Sense of Congress
21 U.S.C. § 2301
Mode of recovery
28 U.S.C. § 2461
Termination of existing declared emergencies
50 U.S.C. § 1601
General authority of the Secretary
31 U.S.C. § 321
General authorization to delegate functions; publication of delegations
3 U.S.C. § 301