12 CFR 313.21
§ 313.21 Definitions.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 313.21, § 313.21 Definitions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/46294
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Full text
(a) Administrative offset means withholding funds payable by the United States to, or held by the United States for, a person to satisfy a debt.
(b) Person includes a natural person or persons, profit or nonprofit corporation, partnership, association, trust, estate, consortium, or other entity which is capable of owing a debt to the United States Government except that agencies of the United States, or any state or local government shall be excluded.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.