§ 515.403. Termination and acquisition of the interest of a designated national.
129 words·~1 min read·
/us/cfr/t31/s§ 515.403·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as provided in § 515.525, whenever a transaction licensed or authorized by or pursuant to this part results in the transfer of property (including any property interest) away from a designated national, such property shall no longer be deemed to be property in which a designated national has or has had an interest unless there exists in such property an interest of a designated national, the transfer of which has not been effected pursuant to license or other authorization.
(b)Unless otherwise specifically provided in a license or authorization contained in or issued pursuant to this part, if property (including any property interest) is transferred to a designated national such property shall be deemed to be property in which there exists the interest of a designated national.