[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR24.115]

[Page 254]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 24_GOVERNMENTWIDE DEBARMENT AND SUSPENSION (NONPROCUREMENT)--
 
                            Subpart A_General
 
Sec.  24.115  How does an exclusion restrict a person's involvement in

covered transactions?

    With the exceptions stated in Sec. Sec.  24.120, 24.315, and 24.420, 
a person who is excluded by the Department of Housing and Urban 
Development or any other Federal agency may not:
    (a) Be a participant in a(n) HUD transaction that is a covered 
transaction under subpart B of this part;
    (b) Be a participant in a transaction of any other Federal agency 
that is a covered transaction under that agency's regulation for 
debarment and suspension; or
    (c) Act as a principal of a person participating in one of those 
covered transactions.