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22 U.S.C. § 8561 — General provisions

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22 U.S.C. § 8561 — General provisions

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Stable record: federal_law:legal_authorities:record_usc_a57465cc3a092809ef7be968
Source file: Laws/federal/codes/united-states-code/title-22/section-8561-general-provisions--96a470bec9.md
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Source location: Title 22, Chapter 92, § 8561; chapter-092-comprehensive-iran-sanctions-accountability-and-divestment.md

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**(a) Sunset** The provisions of this Act (other than sections 105 and 305 [[22 U.S.C. 8514](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514&num=0&edition=prelim), 8544] and the amendments made by sections 102, 107, 109, and 205) shall terminate, and [section 80a–13(c)(1)(B) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section80a–13/c/1/B&num=0&edition=prelim), as added by section 203(a), shall cease to be effective, on the date that is 30 days after the date on which the President certifies to Congress that— (1) the Government of Iran has ceased providing support for acts of international terrorism and no longer satisfies the requirements for designation as a state sponsor of terrorism (as defined in section 301 [[22 U.S.C. 8541](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8541&num=0&edition=prelim)]) under— (A) section 4605(j)(1)(A) 11 See References in Text note below. of title 50 (or any successor thereto); (B) [section 2780(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2780/d&num=0&edition=prelim); or (C) [section 2371(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2371/a&num=0&edition=prelim); and (2) Iran has ceased the pursuit, acquisition, and development of, and verifiably dismantled its, nuclear, biological, and chemical weapons and ballistic missiles and ballistic missile launch technology. **(b) Presidential waivers** (1) **In general** — The President may waive the application of sanctions under section 103(b) [[22 U.S.C. 8512(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8512/b&num=0&edition=prelim)], the requirement to impose or maintain sanctions with respect to a person under section 105(a) [[22 U.S.C. 8514(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514/a&num=0&edition=prelim)], 105A(a) [[22 U.S.C. 8514a(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514a/a&num=0&edition=prelim)], 105B(a) [[22 U.S.C. 8514b(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514b/a&num=0&edition=prelim)], or 105C(a) [[22 U.S.C. 8514c(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514c/a&num=0&edition=prelim)], the requirement to include a person on the list required by section 105(b) [[22 U.S.C. 8514(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514/b&num=0&edition=prelim)], 105A(b) [[22 U.S.C. 8514a(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514a/b&num=0&edition=prelim)], 105B(b) [[22 U.S.C. 8514b(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514b/b&num=0&edition=prelim)], or 105C(b) [[22 U.S.C. 8514c(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8514c/b&num=0&edition=prelim)], the application of the prohibition under section 106(a) [[22 U.S.C. 8515(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8515/a&num=0&edition=prelim)], or the imposition of the licensing requirement under section 303(c) [[22 U.S.C. 8543(c)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8543/c&num=0&edition=prelim)] with respect to a country designated as a Destination of Diversion Concern under section 303(a) [[22 U.S.C. 8543(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8543/a&num=0&edition=prelim)], if the President determines that such a waiver is in the national interest of the United States. (2) **Reports** (A) *In general* — If the President waives the application of a provision pursuant to paragraph (1), the President shall submit to the appropriate congressional committees a report describing the reasons for the waiver. (B) *Special rule for report on waiving imposition of licensing requirement under section 303(c)* — In any case in which the President waives, pursuant to paragraph (1), the imposition of the licensing requirement under section 303(c) [[22 U.S.C. 8543(c)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8543/c&num=0&edition=prelim)] with respect to a country designated as a Destination of Diversion Concern under section 303(a) [[22 U.S.C. 8543(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8543/a&num=0&edition=prelim)], the President shall include in the report required by subparagraph (A) of this paragraph an assessment of whether the government of the country is taking the steps described in subparagraph (A) of section 303(d)(1) [[22 U.S.C. 8543(d)(1)(A)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8543/d/1/A&num=0&edition=prelim)]. **(c) Authorizations of appropriations** (1) **Authorization of appropriations for the Department of State and the Department of the Treasury** — There are authorized to be appropriated to the Secretary of State and to the Secretary of the Treasury such sums as may be necessary to implement the provisions of, and amendments made by, titles I and III of this Act [[22 U.S.C. 8511](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8511&num=0&edition=prelim) et seq., 8541 et seq.]. (2) **Authorization of appropriations for the Department of Commerce** — There are authorized to be appropriated to the Secretary of Commerce such sums as may be necessary to carry out title III [[22 U.S.C. 8541](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8541&num=0&edition=prelim) et seq.].

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Federal law — U.S. Code and appendices · legal_authorities

50 U.S.C. § 1701 — Unusual and extraordinary threat; declaration of national emergency; exercise of Presidential authorities

**(a)** Any authority granted to the President by [section 1702 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section1702&num=0&edition=prelim) may be exercised to deal with any unusual and extraordinary threat, which has its source in whole or substantial part outside the United States, to the national security, foreign policy, or economy of the United States, if the President declares a national emergency with respect to such threat. **(b)** The authorities granted to the President by [section 1702 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section1702&num=0&edition=prelim) may only be exercised to deal with an unusual and extraordinary threat with respect to which a national emergency has been declared for purposes of this chapter and may not be exercised for any other purpose. Any exercise of such authorities to deal with any new threat shall be based on a new declaration of national emergency which must be with respect to such threat.

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 8514 — Expansion of, and reports on, mandatory sanctions with respect to financial institutions that engage in certain activities

**(a) In general** Not later than 90 days after August 10, 2012, the Secretary of the Treasury shall revise the regulations prescribed under [section 8513(c)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8513/c/1&num=0&edition=prelim) to apply to a foreign financial institution described in subsection (b) to the same extent and in the same manner as those regulations apply to a foreign financial institution that the Secretary of the Treasury finds knowingly engages in an activity described in [section 8513(c)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8513/c/2&num=0&edition=prelim). **(b) Foreign financial institutions described** A foreign financial institution described in this subsection is a foreign financial institution, including an Iranian financial institution, that the Secretary of the Treasury finds— (1) knowingly facilitates, or participates or assists in, an activity described in [section 8513(c)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8513/c/2&num=0&edition=prelim), including by acting on behalf of, at the direction of, or as an intermediary for, or otherwise assisting, another person with respect to the activity; (2) attempts or conspires to facilitate or participate in such an activity; or (3) is owned or controlled by a foreign financial institution that the Secretary finds knowingly engages in such an activity. **(c) Reports required** (1) **In general** — Not later than 180 days after August 10, 2012, and every 180 days thereafter, the Secretary of the Treasury shall submit to the appropriate congressional committees a report that contains a detailed description of— (A) the effect of the regul

Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 8514

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 310 — Financial Crimes Enforcement Network

**(a) In General.—** The Financial Crimes Enforcement Network established by order of the Secretary of the Treasury (Treasury Order Numbered 105–08, in this section referred to as “FinCEN”) on April 25, 1990, shall be a bureau in the Department of the Treasury. **(b) Director.—** (1) **Appointment.—** — The head of FinCEN shall be the Director, who shall be appointed by the Secretary of the Treasury. (2) **Duties and powers.—** — The duties and powers of the Director are as follows: (A) Advise and make recommendations on matters relating to financial intelligence, financial criminal activities, and other financial activities to the Under Secretary of the Treasury for Enforcement. (B) Maintain a government-wide data access service, with access, in accordance with applicable legal requirements, to the following: (i) Information collected by the Department of the Treasury, including report information filed under subchapter II of chapter 53 of this title (such as reports on cash transactions, foreign financial agency transactions and relationships, foreign currency transactions, exporting and importing monetary instruments, and suspicious activities), chapter 2 of title I of Public Law 91–508, and section 21 of the Federal Deposit Insurance Act. (ii) Information regarding national and international currency flows. (iii) Other records and data maintained by other Federal, State, local, and foreign agencies, including financial and other records developed in specific cases. (iv) Other privately and publicly available information. (C) Analyze and disseminate the available data in accordance with applicable legal requirements and policies and guidelines established by the Secretary of the Treasury and the Under Secretary of the Treasury for Enfo

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 80a–13 — Changes in investment policy

**(a) Prohibited actions for registered investment companies** No registered investment company shall, unless authorized by the vote of a majority of its outstanding voting securities— (1) change its subclassification as defined in section 80a–5(a)(1) and (2) of this title or its subclassification from a diversified to a nondiversified company; (2) borrow money, issue senior securities, underwrite securities issued by other persons, purchase or sell real estate or commodities or make loans to other persons, except in each case in accordance with the recitals of policy contained in its registration statement in respect thereto; (3) deviate from its policy in respect of concentration of investments in any particular industry or group of industries as recited in its registration statement, deviate from any investment policy which is changeable only if authorized by shareholder vote, or deviate from any policy recited in its registration statement pursuant to [section 80a–8(b)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section80a–8/b/3&num=0&edition=prelim); or (4) change the nature of its business so as to cease to be an investment company. **(b) Majority equivalent for common-law trusts** In the case of a common-law trust of the character described in [section 80a–16(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section80a–16/c&num=0&edition=prelim), either written approval by holders of a majority of the outstanding shares of beneficial interest or the vote of a majority of such outstanding shares cast in person or by proxy at a meeting called for the purpose shall for the purposes of subsection (a) be deemed the equivalent of the vote of a majority of the outstanding voting securit

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 8801 — Definitions

**(a) In general** In this chapter: (1) **Agricultural commodity** — The term “agricultural commodity” has the meaning given that term in [section 5602 of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5602&num=0&edition=prelim). (2) **Appropriate congressional committees** — The term “appropriate congressional committees” means— (A) the committees specified in section 14(2) of the Iran Sanctions Act of 1996 (Public Law 104–172; [50 U.S.C. 1701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section1701&num=0&edition=prelim) note); and (B) the Committee on Armed Services of the Senate and the Committee on Armed Services of the House of Representatives. (3) **Coal** — The term “coal” means metallurgical coal, coking coal, or fuel coke. (4) **Correspondent account; payable-through account** — The terms “correspondent account” and “payable-through account” have the meanings given those terms in [section 5318A of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5318A&num=0&edition=prelim). (5) **Foreign financial institution** — The term “foreign financial institution” has the meaning of that term as determined by the Secretary of the Treasury pursuant to [section 8513(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8513/i&num=0&edition=prelim). (6) **Good** — The term “good” has the meaning given that term in section 4618 11 See References in Text note below. of title 50 (as continued in effect pursuant to the International Emergency Economic Powers Act ([50 U.S.C. 1701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section1701&num=0&edition=prelim) et seq.)). (7) **Iranian financial institution**

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 8511 — Findings

Congress makes the following findings: (1) The illicit nuclear activities of the Government of Iran, combined with its development of unconventional weapons and ballistic missiles and its support for international terrorism, represent a threat to the security of the United States, its strong ally Israel, and other allies of the United States around the world. (2) The United States and other responsible countries have a vital interest in working together to prevent the Government of Iran from acquiring a nuclear weapons capability. (3) The International Atomic Energy Agency has repeatedly called attention to Iran’s illicit nuclear activities and, as a result, the United Nations Security Council has adopted a range of sanctions designed to encourage the Government of Iran to suspend those activities and comply with its obligations under the Treaty on the Non-Proliferation of Nuclear Weapons, done at Washington, London, and Moscow July 1, 1968, and entered into force March 5, 1970 (commonly known as the “Nuclear Non-Proliferation Treaty”). (4) The serious and urgent nature of the threat from Iran demands that the United States work together with its allies to do everything possible—diplomatically, politically, and economically—to prevent Iran from acquiring a nuclear weapons capability. (5) The United States and its major European allies, including the United Kingdom, France, and Germany, have advocated that sanctions be strengthened should international diplomatic efforts fail to achieve verifiable suspension of Iran’s uranium enrichment program and an end to its nuclear weapons program and other illicit nuclear activities. (6) The Government of Iran continues to engage in serious, systematic, and ongoing violations of human rights, including suppression of freedom

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 8517 — Authority to implement United Nations Security Council resolutions imposing sanctions with respect to Iran

In addition to any other authority of the President with respect to implementing resolutions of the United Nations Security Council, the President may prescribe such regulations as may be necessary to implement a resolution that is agreed to by the United Nations Security Council and imposes sanctions with respect to Iran.

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50 U.S.C. § 4315 — Offenses; punishment; forfeitures of property

**(a) Criminal liability** Whoever shall willfully violate any of the provisions of this chapter or of any license, rule, or regulation issued thereunder, and whoever shall willfully violate, neglect, or refuse to comply with any order of the President issued in compliance with the provisions of the chapter shall, upon conviction, be fined not more than $1,000,000, or if a natural person, be imprisoned for not more than 20 years, or both. **(b) Civil liability; hearing; judicial review** (1) A civil penalty of not to exceed $50,000 may be imposed by the Secretary of the Treasury on any person who violates any license, order, rule, or regulation issued in compliance with the provisions of this chapter. (2) Any property, funds, securities, papers, or other articles or documents, or any vessel, together with its tackle, apparel, furniture, and equipment, that is the subject of a violation under paragraph (1) shall, at the direction of the Secretary of the Treasury, be forfeited to the United States Government. (3) The penalties provided under this subsection may be imposed only on the record after opportunity for an agency hearing in accordance with sections 554 through 557 of title 5, with the right to prehearing discovery. (4) Judicial review of any penalty imposed under this subsection may be had to the extent provided in [section 702 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section702&num=0&edition=prelim). **(c) Forfeiture** Upon conviction, any property, funds, securities, papers, or other articles or documents, or any vessel, together with tackle, apparel, furniture, and equipment, concerned in any violation of subsection (a) may be forfeited to the United States. **(d) Statute of limitations** (1) **Time for commencing

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 8501 — Definitions

In this subchapter: (1) **Appropriate congressional committees** — The term “appropriate congressional committees” means— (A) the Committee on Foreign Affairs, the Committee on the Judiciary, and the Committee on Financial Services of the House of Representatives; and (B) the Committee on Foreign Relations, the Committee on the Judiciary, and the Committee on Banking, Housing, and Urban Affairs of the Senate. (2) **Covered family member** — The term “covered family member”, with respect to a foreign person who is an individual, means a spouse, adult child, parent, or sibling of the person who engages in the sanctionable activity described under [section 8572 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section8572&num=0&edition=prelim) or who demonstrably benefits from such activity.

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 8541 — Authority of State and local governments to divest from certain companies that invest in Iran

**(a) Sense of Congress** It is the sense of Congress that the United States should support the decision of any State or local government that for moral, prudential, or reputational reasons divests from, or prohibits the investment of assets of the State or local government in, a person that engages in investment activities in the energy sector of Iran, as long as Iran is subject to economic sanctions imposed by the United States. **(b) Authority to divest** Notwithstanding any other provision of law, a State or local government may adopt and enforce measures that meet the requirements of subsection (d) to divest the assets of the State or local government from, or prohibit investment of the assets of the State or local government in, any person that the State or local government determines, using credible information available to the public, engages in investment activities in Iran described in subsection (c). **(c) Investment activities described** A person engages in investment activities in Iran described in this subsection if the person— (1) has an investment of $20,000,000 or more in the energy sector of Iran, including in a person that provides oil or liquified natural gas tankers, or products used to construct or maintain pipelines used to transport oil or liquified natural gas, for the energy sector of Iran; or (2) is a financial institution that extends $20,000,000 or more in credit to another person, for 45 days or more, if that person will use the credit for investment in the energy sector of Iran. **(d) Requirements** Any measure taken by a State or local government under subsection (b) shall meet the following requirements: (1) **Notice** — The State or local government shall provide written notice to each person to which a measure is to be applied.

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