§ 599.405. Setoffs prohibited.
32 words·~1 min read·
/us/cfr/t31/s§ 599.405·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 § 599.201 if effected after the effective date.