[Code of Federal Regulations]

[Title 42, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 42CFR23.29]



[Page 94]

 

                         TITLE 42--PUBLIC HEALTH

 

    CHAPTER I--PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN 

                                SERVICES

 

PART 23_NATIONAL HEALTH SERVICE CORPS--Table of Contents

 

    Subpart B_Private Practice Special Loans for Former Corps Members

 

Sec. 23.29  What happens in the case of a default?



    (a) In the event of default, the Secretary may declare the entire 

amount owed (including principal, accrued interest and any applicable 

charges) immediately due and payable. Collection of the amount owed will 

be made in accordance with 45 CFR part 30.

    (b) The borrower is not entitled to written notice of any default 

and the failure to deliver written notice of default in no way affects 

the Secretary's right to declare the loan in default and take any 

appropriate action under the loan agreement or the promissory note.

    (c) The failure of the Secretary to exercise any remedy available 

under law or regulation shall in no event be construed as a waiver of 

his or her right to exercise that remedy if any subsequent or continued 

default or breach occurs.