Source: https://www.law.cornell.edu/cfr/text/31/576.202
Timestamp: 2015-03-01 03:36:21
Document Index: 7217133

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

31 CFR 576.202 - Effect of transfers violating the provisions of this part. | LII / Legal Information Institute
CFR › Title 31 › Subtitle B › Chapter V › Part 576 › Subpart B › Section 576.202 31 CFR 576.202 - Effect of transfers violating the provisions of this part.
§ 576.202
Any transfer after the effective date that is in violation of any provision of this part or of any regulation, order, directive, ruling, instruction, or license issued pursuant to this part, and that involves any property or interest in property blocked pursuant to § 576.201(a) or § 576.201(b), is null and void and shall not be the basis for the assertion or recognition of any interest in or right, remedy, power, or privilege with respect to such property or property interests.
No transfer before the effective date shall be the basis for the assertion or recognition of any right, remedy, power, or privilege with respect to, or any interest in, any property or interest in property blocked pursuant to § 576.201(a) or § 576.201(b), unless the person who holds or maintains such property, prior to that date, had written notice of the transfer or by any written evidence had recognized such transfer.
Unless otherwise provided, an appropriate license or other authorization issued by the Office of Foreign Assets Control before, during, or after a transfer shall validate such transfer or make it enforceable to the same extent that it would be valid or enforceable but for the provisions of IEEPA, Executive Orders 13315, 13350, or 13438, this part, and any regulation, order, directive, ruling, instruction, or license issued pursuant to this part.
Note to paragraph (d) of § 576.202:
Unless licensed pursuant to this part, any attachment, judgment, decree, lien, execution, garnishment, or other judicial process is null and void with respect to any property in which, on or since the effective date, there existed an interest of a person whose property and interests in property are blocked pursuant to § 576.201(a), or with respect to any property and interests in property blocked pursuant to § 576.201(b).