[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR500.212]

[Page 580]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
         CHAPTER V--EMERGENCY OIL AND GAS GUARANTEED LOAN BOARD
 
PART 500--EMERGENCY OIL AND GAS GUARANTEED LOAN PROGRAM--Table of Contents
 
                 Subpart C--Oil and Gas Guaranteed Loans
 
Sec. 500.212  Liquidation.

    (a) The Board may take, or direct to be taken, any action in 
liquidating the Security which the Board determines to be necessary or 
proper, consistent with Federal law and regulations.
    (b) Pursuant to the Guarantee, upon written demand by the Lender and 
whether or not the Board has made any payment under the Guarantee, the 
Board, at the Board's sole option shall have the right to require that 
the Lender, solely or jointly with the Board, conduct to completion the 
liquidation of any or all of the Security. The Board may choose to 
conduct the liquidation itself.