C.F.R. » Title 25 » CHAPTER I—BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR › SUBCHAPTER G—FINANCIAL ACTIVITIES › PART 103—LOAN GUARANTY, INSURANCE, AND INTEREST SUBSIDY › Subpart G—Default and Payment by BIA

25 C.F.R. § 103.38

Is there anything else for BIA or the lender to do after BIA makes payment?

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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.

Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2021–2021 · leading case: United States v. Hump (D.S.D. 2021).
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United States v. Hump (D.S.D. 2021). “§ 1492 ; 25 C.F.R. § 103.38 . B. Undisputed Facts* 2 The statute uses the word “Indian.”
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