22 CFR 201.47
§ 201.47 Use of marine insurance loss proceeds.
United States · 22 CFR — Foreign Relations · Status: effective
Cite this
- Citation
- 22 CFR 201.47, § 201.47 Use of marine insurance loss proceeds, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/94054
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.