[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR536.503]



[Page 169]

 

                  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]