[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR536.503]

[Page 681]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 536_NARCOTICS TRAFFICKING SANCTIONS REGULATIONS--Table of Contents
 
 Subpart E_Licenses, Authorizations, and Statements of Licensing Policy
 
Sec. 536.503  Payments and transfers to blocked accounts in U.S. financial 
institutions.

    (a) Any payment of funds or transfer of credit or other financial or 
economic resources or assets into a blocked account in a U.S. financial 
institution is authorized, provided that a transfer from a blocked 
account pursuant to this authorization may only be made to another 
blocked account held in the same name on the books of the same U.S. 
financial institution.
    (b) This section does not authorize any transfer from a blocked 
account within the United States to an account held outside the United 
States.

    Note to Sec. 536.503: Please refer to Sec. 501.603 of this chapter 
for mandatory reporting requirements regarding financial transfers.

[62 FR 9960, Mar. 5, 1997, as amended at 62 FR 45107, Aug. 25, 1997]