Case No. CU-81874

Date issued: Sep. 06 2011

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TURBOFAC Commentary (916 words)

Notes:

1) For the CACR as they existed in 2011, see https://www.govinfo.gov/content/pkg/CFR-2011-title31-vol3/xml/CFR-2011-title31-vol3-part515.xml.

Of note is 515.570(f):

(f) Certain remittances from blocked sources authorized. Provided the recipient is not a prohibited official of the Government of Cuba, as defined in § 515.337 of this part, or a prohibited member of the Cuban Communist Party, as defined in § 515.338 of this part, certain remittances from blocked sources are authorized as follows:
(1) Funds deposited in a blocked account in a banking institution in the United States held in the name of, or in which the beneficial interest is held by, a national of Cuba as a result of a valid testamentary disposition, intestate succession, or payment from a life insurance policy or annuity contract triggered by the death of the policy or contract holder...