22 CFR 201.47 - Use of marine insurance loss proceeds.

Regulations last checked for updates: Nov 25, 2024

Title 22 - Foreign Relations last revised: Oct 28, 2024

View all text of Subpart E [§ 201.40 - § 201.47]

§ 201.47 - Use of marine insurance loss proceeds.

The borrower/grantee shall pay promptly to USAID a sum equal to the proceeds received by an importer or its assignee in settlement of a marine insurance claim under a marine insurance policy financed pursuant to this part 201, if such proceeds are not expended in the manner provided by § 201.26 within a reasonable period after receipt by the importer.

authority: 22 U.S.C. 2381.

source: 55 FR 34232, Aug. 22, 1990, unless otherwise noted.

cite as: 22 CFR 201.47