Source: https://www.law.cornell.edu/cfr/text/31/576.504
Timestamp: 2015-09-05 14:33:11
Document Index: 227708590

Matched Legal Cases: ['art 576', '§ 576', '§ 576', '§ 576', '§ 501', '§ 576']

31 CFR 576.504 - Payments and transfers to blocked accounts in U.S. financial institutions. | US Law | LII / Legal Information Institute
CFR › Title 31 › Subtitle B › Chapter V › Part 576 › Subpart E › Section 576.504 31 CFR 576.504 - Payments and transfers to blocked accounts in U.S. financial institutions.
§ 576.504
Any payment of funds or transfer of credit in which a person whose property and interests in property are blocked pursuant to § 576.201(a) has any interest that comes within the possession or control of a U.S. financial institution must be blocked in an account on the books of that financial institution. A transfer of funds or credit by a U.S. financial institution between blocked accounts in its branches or offices is authorized, provided that no transfer is made from an account within the United States to an account held outside the United States, and further provided that a transfer from a blocked account may be made only to another blocked account held in the same name.
Note to § 576.504:
See§ 501.603 of this chapter for mandatory reporting requirements regarding financial transfers. See also § 576.203 concerning the obligation to hold blocked funds in interest-bearing accounts.