45 CFR 286.210 - What is the penalty for a Tribe's failure to repay a Federal loan?

Regulations last checked for updates: May 19, 2024

Title 45 - Public Welfare last revised: May 13, 2024

View all text of Subpart D [§ 286.195 - § 286.240]

§ 286.210 - What is the penalty for a Tribe's failure to repay a Federal loan?

(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.

authority: 42 U.S.C. 601,604,and; Public Law 111-5

source: 65 FR 8530, Feb. 18, 2000, unless otherwise noted.

cite as: 45 CFR 286.210