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Code of Federal Regulations Title 45. Public Welfare § 45.286.210 What is the penalty for a Tribe's failure to repay a Federal loan?

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

(a) If a Tribe fails to repay the amount of principal and interest due at any point under a loan agreement:

(1) The entire outstanding loan balance, plus all accumulated interest, becomes due and payable immediately;  and

(2) We will reduce the TFAG payable for the immediately succeeding fiscal year quarter by the outstanding loan amount plus interest.

(b) Neither the reasonable cause provisions at § 286.225 nor the corrective compliance plan provisions at § 286.230 apply when a Tribe fails to repay a Federal loan.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 45. Public Welfare § 45.286.210 What is the penalty for a Tribe's failure to repay a Federal loan? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-45-public-welfare/cfr-sect-45-286-210/

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