Source: https://www.govregs.com/regulations/title31_chapterV_part554_subpartE_section554.506
Timestamp: 2020-08-11 09:41:11
Document Index: 605187038

Matched Legal Cases: ['§ 554', 'art 554', '§ 554', '§ 554', '§ 554', '§ 554', '§ 554', '§ 554', '§ 554', '§ 554']

31 CFR 554.506 - Provision of certain legal services authorized. § 554.506 - Provision of certain legal services authorized.
All TitlesTitle 31Chapter VPart 554Subpart E - Licenses, Authorizations, and Statements of Licensing Policy
View all text of Subpart E [§ 554.501 - § 554.508]
§ 554.506 - Provision of certain legal services authorized.
(a) The provision of the following legal services to or on behalf of persons whose property and interests in property are blocked pursuant to § 554.201 or any further Executive orders relating to the national emergency declared in Executive Order 13712 of November 22, 2015, is authorized, provided that receipt of payment of professional fees and reimbursement of incurred expenses must be specifically licensed, authorized pursuant to § 554.507, which authorizes certain payments for legal services from funds originating outside the United States, or otherwise authorized pursuant to this part:
(b) The provision of any other legal services to persons whose property and interests in property are blocked pursuant to § 554.201 or any further Executive orders relating to the national emergency declared in Executive Order 13712 of November 22, 2015, not otherwise authorized in this part, requires the issuance of a specific license.
(c) Entry into a settlement agreement or the enforcement of any lien, judgment, arbitral award, decree, or other order through execution, garnishment, or other judicial process purporting to transfer or otherwise alter or affect property or interests in property blocked pursuant to § 554.201 or any further Executive orders relating to the national emergency declared in Executive Order 13712 of November 22, 2015, is prohibited unless licensed pursuant to this part.
Note to § 554.506:
U.S. persons seeking administrative reconsideration or judicial review of their designation or the blocking of their property and interests in property may apply for a specific license from OFAC to authorize the release of a limited amount of blocked funds for the payment of legal fees where alternative funding sources are not available. For more information, see OFAC's Guidance on the Release of Limited Amounts of Blocked Funds for Payment of Legal Fees and Costs Incurred in Challenging the Blocking of U.S. Persons in Administrative or Civil Proceedings, which is available on OFAC's Web site: www.treasury.gov/ofac.