Sec. 102. MODIFICATION OF REPORT WITH RESPECT TO FINANCIAL INSTITUTIONS THAT ENGAGE IN CERTAIN TRANSACTIONS
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## SEC. 102 MODIFICATION OF REPORT WITH RESPECT TO FINANCIAL INSTITUTIONS THAT ENGAGE IN CERTAIN TRANSACTIONS Section 102(d) of the Hizballah International Financing Prevention Act of 2015 (Public Law 114-102; 50 U.S.C. 1701 note) is amended to read as follows: > > ### “(d) Report on Financial Institutions Organized Under the Laws of State Sponsors of Terrorism > > > #### “(1) In general > > Not later than 180 days after the date of the enactment of the Hizballah International Financing Prevention Amendments Act of 2018, and every 2 years thereafter for a period not to exceed 4 years, the President shall submit to the appropriate congressional committees a report that— > > > ##### “(A) > > identifies each foreign financial institution described in paragraph
(2)that the President determines engages in one or more activities described in subsection (a)(2); and > > > ##### “(B) > > provides a detailed description of each such activity. > > > #### “(2) Foreign financial institution described > > > ##### “(A) In general > > A foreign financial institution described in this paragraph is a foreign financial institution— > > > ###### “(i) > > that, wherever located, is— > > > ###### “(I) > > organized under the laws of a state sponsor of terrorism or any jurisdiction within a state sponsor of terrorism; > > > ###### “(II) > > owned or controlled by the government of a state sponsor of terrorism; > > > ###### “(III) > > located in the territory of a state sponsor of terrorism; or > > > ###### “(IV) > > owned or controlled by a foreign financial institution described in subclause (I), (II), or (III); and > > > ###### “(ii) > > the capitalization of which exceeds $10,000,000. > > > ##### “(B) State sponsor of terrorism defined > > In this paragraph, the term ‘state sponsor of terrorism’ means a country the government of which the Secretary of State has determined is a government that has repeatedly provided support for acts of international terrorism for purposes of— > > > ###### “(i) > > section 1754(c) of the Export Control Reform Act of 2018; > > > ###### “(ii) > > section 620A of the Foreign Assistance Act of 1961 (22 U.S.C. 2371); > > > ###### “(iii) > > section 40 of the Arms Export Control Act (22 U.S.C. 2780); or > > > ###### “(iv) > > any other provision of law.” > .
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Sec. 102
MODIFICATION OF REPORT WITH RESPECT TO FINANCIAL INSTITUTIONS THAT ENGAGE IN CERTAIN TRANSACTIONS
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