[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: 31CFR587.205]

[Page 875-876]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 587_FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) MILOSEVIC 
SANCTIONS REGULATIONS--Table of Contents
 
                         Subpart B_Prohibitions
 
Sec. 587.205  Expenses of maintaining blocked property; liquidation of 
blocked account.

    (a) Except as otherwise authorized, and notwithstanding the 
existence of any rights or obligations conferred or

[[Page 876]]

imposed by any international agreement or contract entered into or any 
license or permit granted before 12:01 a.m., eastern standard time, 
January 19, 2001, all expenses incident to the maintenance of physical 
property blocked pursuant to Sec. 587.201(a) shall be the 
responsibility of the owners or operators of such property, which 
expenses shall not be met from blocked funds.
    (b) Property blocked pursuant to Sec. 587.201(a) may, in the 
discretion of the Director, Office of Foreign Assets Control, be sold or 
liquidated and the net proceeds placed in a blocked interest-bearing 
account in the name of the owner of the property.