1. Regulations
  2. title 22
  3. chapter II
  4. part 238
  5. § 238.11

View all text of Part 238 [§ 238.1 - § 238.16]

§ 238.11 - Subrogation of USAID.

In the event of payment by USAID to a Noteholder under the 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: Sec. 7034(r) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (Div. J, Pub. L. 113-235).

SOURCE: 80 FR 36237, June 24, 2015, unless otherwise noted.

CITE AS: 22 CFR 238.11