Notwithstanding any other provision of law, no loan, credit, or other financing may be extended knowingly by a United States national, a permanent resident alien, or a United States agency to any person for the purpose of financing transactions involving any confiscated property the claim to which is owned by a United States national as of March 12, 1996, except for financing by the United States national owning such claim for a transaction permitted under United States law.
(b) Suspension and termination of prohibition
The President is authorized to suspend the prohibition contained in subsection (a) of this section upon a determination made under section
6063(c)(1) of this title that a transition government in Cuba is in power.
The prohibition contained in subsection (a) of this section shall cease to apply on the date on which the economic embargo of Cuba terminates as provided in section
6064 of this title.
Violations of subsection (a) of this section shall be punishable by such civil penalties as are applicable to violations of the Cuban Assets Control Regulations set forth in part 515 of title
31, Code of Federal Regulations.
As used in this section—
(1)the term “permanent resident alien” means an alien lawfully admitted for permanent residence into the United States; and
(2)the term “United States agency” has the meaning given the term “agency” in section
551(1) of title
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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