Section text and notes
In general
section 461(b)(1)(A) of title 1215 U.S.C. 78aExcept as provided by subsection (b), effective on the date that is 30 days after , a depository institution (as defined in ) or a broker or dealer in securities registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934 ( et seq.) may not process transfers of funds—
to or from the Government of the Russian Federation, including any entity owned by the Government of the Russian Federation; or
for the direct or indirect benefit of officials of the Government of the Russian Federation.
Exception
A depository institution, broker, or dealer described in subsection (a) may process a transfer described in that subsection if the transfer arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction that is authorized by a specific or general license.
Pub. L. 119–111, div. A, title I, § 105140 Stat. 1036 (, , .)
Editorial Notes
References in Text
act June 6, 1934, ch. 404 48 Stat. 881 section 78a of Title 15The Securities Exchange Act of 1934, referred to in subsec. (a), is , , which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see and Tables.