[Code of Federal Regulations]
[Title 45, Volume 1]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 45CFR30.18]

[Page 93]
 
                        TITLE 45--PUBLIC WELFARE
 
                           AND HUMAN SERVICES
 
PART 30--CLAIMS COLLECTION--Table of Contents
 
                     Subpart B--Collection of Claims
 
Sec. 30.18  Liquidation of collateral.

    If the Secretary holds a security instrument with a power of sale or 
has physical possession of collateral, the Secretary will liquidate the 
security or collateral when it is cost-effective to do so and apply the 
proceeds to an overdue debt. The Secretary will give the debtor 
reasonable notice of the sale and an accounting of any surplus proceeds 
and will comply with other requirements under law or contract.