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Title 22 Part 201 → Subpart E → §201.47

Title 22 → Chapter II → Part 201 → Subpart E → §201.47

Electronic Code of Federal Regulations e-CFR

Title 22 Part 201 → Subpart E → §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.