[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: 42CFR60.17]



[Page 328]

 

                         TITLE 42--PUBLIC HEALTH

 

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

                                SERVICES

 

PART 60_HEALTH EDUCATION ASSISTANCE LOAN PROGRAM--Table of Contents

 

                           Subpart C_The Loan

 

Sec. 60.17  Security and endorsement.



    (a) A HEAL loan must be made without security.

    (b) With one exception, it must also be made without endorsement. If 

a borrower is a minor and cannot under State law create a legally 

binding obligation by his or her own signature, a lender may require an 

endorsement by another person on the borrower's HEAL note. For purposes 

of this paragraph, an ``endorsement'' means a signature of anyone other 

than the borrower who is to assume either primary or secondary liability 

on the note.