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Code · CFR · Title 31 — Money and Finance: Treasury · Part 597 · § 597.404

§ 597.404. Setoffs prohibited.

27 words·~1 min read·/us/cfr/t31/s§ 597.404·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A setoff against blocked funds (including a blocked account) by a U.S. financial institution is a prohibited transaction under § 597.201 if effected after the effective date.
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