§ 515.336. Confiscated.
163 words·~1 min read·
/us/cfr/t31/s§ 515.336·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in § 515.208, the term confiscated refers to:
(a)The nationalization, expropriation, or other seizure by the Cuban Government of ownership or control of property, on or after January 1, 1959:
(1)Without the property having been returned or adequate and effective compensation provided; or
(2)Without the claim to the property having been settled pursuant to an international claims settlement agreement or other mutually accepted settlement procedure; and
(b)The repudiation by the Cuban Government of, the default by the Cuban Government on, or the failure of the Cuban Government to pay, on or after January 1, 1959:
(1)A debt of any enterprise which has been nationalized, expropriated, or otherwise taken by the Cuban Government;
(2)A debt which is a charge on property nationalized, expropriated, or otherwise taken by the Cuban Government; or
(3)A debt which was incurred by the Cuban Government in satisfaction or settlement of a confiscated property claim. \[61 FR 37386, July 18, 1996\]