Title 22 Part 140 → Subpart C → §140.10

Title 22 → Chapter I → Subchapter N → Part 140 → Subpart C → §140.10

Electronic Code of Federal Regulations e-CFR

Title 22 Part 140 → Subpart C → §140.10

e-CFR data is current as of March 26, 2020

Title 22Chapter ISubchapter NPart 140Subpart C → §140.10

Title 22: Foreign Relations
Subpart C—Enforcement

§140.10   Intermediate credit institutions.

(a) Treatment as non-governmental entity or as a foreign government entity. Intermediate credit institutions (“ICIs”) shall be subject to either the procedures applicable to foreign government entities or those applicable to non-governmental entities, depending on the nature of the specific entity. The Assistant Secretary of State for International Narcotics and Law Enforcement Affairs or the Assistant Secretary's designee, in consultation with the agency proposing the assistance and other appropriate bureaus and agencies, shall determine (consistent with the definition of “foreign state” set forth in the Foreign Sovereign Immunities Act, 28 U.S.C. 1603(a) and made applicable by §140.5) whether the ICI will be treated as a non-governmental entity or a foreign government entity.

(b) Refunds. In addition to measures required as a consequence of an ICI's treatment as a non-governmental entity or a foreign government entity, a clause shall be included in agreements with all ICIs requiring that any loan greater than $1,000 provided by the ICI to an individual or entity subsequently found to have been convicted of a narcotics offense or engaged in drug trafficking, as defined in this part, shall be subject to refund or recall.