31 CFR § 551.204

31 CFR · Money and Finance: Treasury

§ 551.204 — Expenses of maintaining blocked tangible property; liquidation of blocked property.

31 CFR § 551.204

TitleTitle 31: Money and Finance: Treasury PartPart 551: Somalia Sanctions Regulations

SourceeCFR (current through Mar 30, 2026)

This text of 31 C.F.R. § 551.204 (Expenses of maintaining blocked tangible property; liquidation of blocked property.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

31 C.F.R. § 551.204 (2026).

Text

§ 551.204 Expenses of maintaining blocked tangible property; liquidation of blocked property.

(a)Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or contract entered into or any license or permit granted prior to the effective date, all expenses incident to the maintenance of tangible property blocked pursuant to § 551.201 shall be the responsibility of the owners or operators of such property, which expenses shall not be met from blocked funds.

(b)Property blocked pursuant to § 551.201 may, in the discretion of OFAC, be sold or liquidated and the net proceeds placed in a blocked interest-bearing account in the name of the owner of the property.

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§ 551.204 Expenses of maintaining blocked tangible property; liquidation of blocked property.

(a) Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or contract entered into or any license or permit granted prior to the effective date, all expenses incident to the maintenance of tangible property blocked pursuant to § 551.201 shall be the responsibility of the owners or operators of such property, which expenses shall not be met from blocked funds.

(b) Property blocked pursuant to § 551.201 may, in the discretion of OFAC, be sold or liquidated and the net proceeds placed in a blocked interest-bearing account in the name of the owner of the property.