1. Regulations
  2. title 22
  3. chapter II
  4. part 231
  5. § 231.11

View all text of Part 231 [§ 231.01 - § 231.16]

§ 231.11 - Subrogation of USAID.

In the event of payment by USAID to a Noteholder under this Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.

AUTHORITY: Emergency Wartime Supplemental Appropriations Act, 2003, Pub. L. 108-11, chapter 5, title I, “Economic Support Fund”, para. (2).

SOURCE: 70 FR 56102, Sept. 23, 2005, unless otherwise noted.

CITE AS: 22 CFR 231.11