Sec. 3. Definitions
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In this Act: The terms applicable Executive order , applicable United Nations Security Council resolution , Government of North Korea , and North Korea have the meanings given those terms in section 3 of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9202 ). The term appropriate congressional committees means— the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate; and the Committee on Financial Services and the Committee on Foreign Affairs of the House of Representatives.
The term knowingly , with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result. The term North Korean covered property includes any goods, services, or technology— that are in North Korea; that are made with significant amounts of North Korean labor, materials, goods, or technology; in which the Government of North Korea or a North Korean financial institution has a significant interest or exercises significant control; or in which a designated person has a significant interest or exercises significant control.
In this paragraph, the term designated person means a person who is designated under— an applicable Executive order; an applicable United Nations Security Council resolution; or section 104 of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9204 ). The term North Korean financial institution includes— any North Korean financial institution, as defined in section 3 of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9202 ); any financial agency, as defined in section 5312 of title 31, United States Code, that is owned or controlled by the Government of North Korea; any money transmitting business, as defined in section 5330(d) of title 31, United States Code, that is owned or controlled by the Government of North Korea; and any financial institution that is a joint venture between any person and the Government of North Korea.
Unless otherwise specified, the term Secretary means the Secretary of the Treasury. The term United States financial institution means a financial institution that— is a United States person, regardless of where the person operates; or operates or does business in the United States, including by conducting wire transfers through correspondent banks in the United States. The term United States person means— a citizen or resident of the United States or a national of the United States (as defined in section 101(a) of the Immigration and Nationality Act ( 8 U.S.C. 1101(a) )); and an entity that is organized under the laws of the United States or any jurisdiction within the United States, including a foreign subsidiary of such an entity.
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U.S. Code
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- 22 USC 9204
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