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Code of Federal Regulations Title 25. Indians § 25.103.38 Is there anything else for BIA or the lender to do after BIA makes payment?

Current as of January 02, 2025 | Updated by Findlaw Staff

When BIA pays the lender on its claim for loss, the lender must sign and deliver to BIA an assignment of rights to its loan agreement with the borrower, in a document acceptable to BIA. Immediately upon payment, BIA is subrogated to all rights of the lender under the loan agreement with the borrower, and must pursue collection efforts against the borrower and any co-maker and guarantor, as required by law.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 25. Indians § 25.103.38 Is there anything else for BIA or the lender to do after BIA makes payment? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-25-indians/cfr-sect-25-103-38/

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