22 USC 6033 – Prohibition against indirect financing of Cuba
(a) Prohibition
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
(1) Suspension
The President is authorized to suspend the prohibition contained in subsection (a) upon a determination made under section 6063(c)(1) of this title that a transition government in Cuba is in power.
(2) Termination
The prohibition contained in subsection (a) shall cease to apply on the date on which the economic embargo of Cuba terminates as provided in section 6064 of this title.
(c) Penalties
Terms Used In 22 USC 6033
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- confiscated: refers to &mdash. See 22 USC 6023
- economic embargo of Cuba: refers to &mdash. See 22 USC 6023
- knowingly: means with knowledge or having reason to know. See 22 USC 6023
- person: means any person or entity, including any agency or instrumentality of a foreign state. See 22 USC 6023
- property: means any property (including patents, copyrights, trademarks, and any other form of intellectual property), whether real, personal, or mixed, and any present, future, or contingent right, security, or other interest therein, including any leasehold interest. See 22 USC 6023
- transition government in Cuba: means a government that the President determines is a transition government consistent with the requirements and factors set forth in section 6065 of this title. See 22 USC 6023
- United States national: means &mdash. See 22 USC 6023
Violations of subsection (a) 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.
(d) Definitions
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 5.