25 C.F.R. § 103.40 Will BIA make exceptions to its criteria for denying payment?
Title 25 - Indians
(a) BIA will not reduce or deny payment solely on the basis of §§103.39(c) or (e) when the lender making the claim for loss: (1) Is a person to whom a previous lender transferred the loan under §§103.28 or 103.29 before maturity for value; (2) Notified BIA of its acquisition of the loan interest as required by §§103.28 or 103.29; (3) Had no involvement in or knowledge of the actions or circumstances that would have allowed BIA to reduce or deny payment to a previous lender; and (4) Has not itself violated the standards set forth in §§103.39(c) or (e). (b) If BIA makes payment to a lender under this section, it may seek reimbursement from the previous lender or lenders who contributed to the loss by violating §§103.39(c) or (e).
Title 25: Indians
PART 103—LOAN GUARANTY, INSURANCE, AND INTEREST SUBSIDY
Subpart G—Default and Payment by BIA
§ 103.40 Will BIA make exceptions to its criteria for denying payment?
