[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: 45CFR77.6]



[Page 280]

 

                        TITLE 45--PUBLIC WELFARE

 

                    SUBTITLE A--DEPARTMENT OF HEALTH

                           AND HUMAN SERVICES

 

PART 77_REMEDIAL ACTIONS APPLICABLE TO LETTER OF CREDIT 

ADMINISTRATION--Table of Contents

 

Sec.  77.6  Emergency procedures.



    (a) Should the Department determine that it cannot adequately 

protect assets of the Federal government available to a recipient 

organization under its letter of credit without taking remedial action 

prior to the procedures specified in Sec.  77.5, it may immediately take 

remedial action subject to the subsequent completion of those 

procedures.

    (b) Where the Department has taken remedial action as described in 

paragraph (a) of this section, it will notify the recipient organization 

orally of the remedial action within one business day of its imposition 

and in writing within seven business days of its imposition. The written 

notice will conform to that described in Sec.  77.5(a).

    (c) After receipt of the written notice, the recipient organization 

will have the same opportunity to respond as described in Sec.  

77.5(b)(1).

    (d) The Department will issue a final decision in writing no later 

than twenty days following receipt of any response submitted by the 

recipient organization.