§ 550.405. Setoffs prohibited.
32 words·~1 min read·
/us/cfr/t31/s§ 550.405·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A setoff against blocked property (including a blocked account), whether by a U.S. financial institution or other U.S. person, is a prohibited transfer under § 550.201 if effected after the effective date.