Sec. 3. Prohibition on financial services for certain immediate family
134 words·~1 min read·
/bill/118/hr/554/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary of the Treasury may prohibit a United States financial institution, and any person owned or controlled by a United States financial institution, from engaging in a significant transaction with— a natural person covered by a report made under section 2(a); or the immediate family of a person described under paragraph (1), if the Secretary finds that such immediate family benefits from funds described in the report. Subsection
(a)shall have no force or effect on the earlier of— the date that is 30 days after the date that the President reports to the appropriate Members of Congress that the threat described under section 2(a)(1) is no longer present; or the date that is 25 years after the date that the Secretary of the Treasury submits the final report required under section 2(a)(1).