1. Regulations
  2. title 22
  3. chapter II
  4. part 232
  5. § 232.11

View all text of Part 232 [§ 232.01 - § 232.16]

§ 232.11 - 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: Title III of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2012, Division I, Pub. L. 112-74.

SOURCE: 77 FR 40790, July 11, 2012, unless otherwise noted.

CITE AS: 22 CFR 232.11