[Code of Federal Regulations]

[Title 45, Volume 1]

[Revised as of October 1, 2006]

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

[CITE: 45CFR30.18]



[Page 95]

 

                        TITLE 45--PUBLIC WELFARE

 

                    SUBTITLE A--DEPARTMENT OF HEALTH

                           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.