31 C.F.R. § 500.517 Access to safe deposit boxes under certain conditions.
Title 31 - Money and Finance: Treasury
(a) Access to any safe deposit box leased to a designated national or containing property in which any designated national has an interest, and the deposit therein or removal therefrom of any property is hereby authorized, provided the following terms and conditions are complied with: (1) Access shall be permitted only in the presence of an authorized representative of the lessor of such box; and (2) In the event that any property in which any designated national has any interest is to be removed from such box, access shall be permitted only in the presence of an authorized representative of a banking institution within the United States, which may be the lessor of such box, which shall receive such property into its custody immediately upon removal from such box and which shall hold the same in a blocked account under an appropriate designation indicating the interest therein of designated nationals. (b) The terms and conditions set forth in paragraph (a) of this section shall not apply to access granted to a representative of the Office of Alien Property pursuant to any rule, regulation or order of such Office. (c) The lessee or other person granted access to any safe deposit box pursuant to this section (except an agent or representative of the Office of Alien Property) shall furnish to the lessor a certificate in triplicate that he has filed or will promptly file a report with respect to such box, if leased to a designated national, and with respect to all property contained in the box to which access is had in which any designated national has an interest. The lessor shall transmit two copies of such certificate to the Treasury Department, Washington, D.C. The certificate is required only on the first access to the box. In case a report on Form TFR–603 was not made, a report is hereby required to be filed. All reports made pursuant to this section shall bear on their face or have securely attached to them a statement reading, “this report is filed pursuant to 31 CFR 500.517”. [15 FR 9040, Dec. 19, 1950, as amended at 35 FR 4045, Mar. 4, 1970]
Title 31: Money and Finance: Treasury
PART 500—FOREIGN ASSETS CONTROL REGULATIONS
Subpart E—Licenses, Authorizations and Statements of Licensing Policy
§ 500.517 Access to safe deposit boxes under certain conditions.
