---
kind: "section"
citation: "10 C.F.R. § 1015.210"
title: "10"
number: "1015.210"
heading: "Liquidation of collateral."
url: "https://uscodex.org/cfr/10/1015.210"
---

# §1015.210. Liquidation of collateral.

- (a) DOE may liquidate security or collateral through the exercise of a power of sale in the security instrument or a nonjudicial foreclosure, and apply the proceeds to the applicable debt(s), if the debtor fails to pay the debt(s) within a reasonable time after demand and if such action is in the best interest of the United States. Collection from other sources, including liquidation of security or collateral, is not a prerequisite to requiring payment by a surety, insurer, or guarantor unless such action is expressly required by statute or contract.
- (b) When DOE learns that a bankruptcy petition has been filed with respect to a debtor, DOE will seek legal advice from counsel concerning the impact of the Bankruptcy Code, including, but not limited to, [11 U.S.C. 362](/usc/11/362.md), to determine the applicability of the automatic stay and the procedures for obtaining relief from such stay prior to proceeding under [paragraph (a)](#a) of this section.

## Notes

### Authority

Authority: 31 U.S.C. 3701, 3711, 3716, 3717, 3718, and 3720B; 42 U.S.C. 2201 and 7101, et seq.; 50 U.S.C. 2401 et seq.

### Source

Source: 68 FR 48533, Aug. 14, 2003, unless otherwise noted.