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§1075.109. When payments to victims are impracticable.

12 C.F.R. § 1075.109

(a)
Individual payments. Making a payment to an individual victim will be deemed impracticable if:
(1)
The payment to the victim would be of such a small amount that the victim would not be likely to redeem the payment;
(2)
The payment to the victim is too small to justify the cost of locating the victim and making the payment;
(3)
The victim cannot be located with effort that is reasonable in light of the amount of the payment;
(4)
The victim does not timely submit information that a distribution plan requires to be submitted before a payment will be made;
(5)
The victim does not redeem the payment within a reasonable time; or
(6)
The Fund Administrator determines that other circumstances make it unreasonable to make a payment to the victim.
(b)
Payments to a class of victims. Making payments to a class of victims will be deemed impracticable if:
(1)
The expected aggregate actual payment to the class of victims is too small to justify the costs of locating the victims in the class and making payments to them;
(2)
It would be impracticable under paragraph (a) of this section to make a payment to any victim in the class; or
(3)
The Fund Administrator determines that other circumstances make it unreasonable to make payments to the class.
Notes, amendments, and revision history

Authority

Authority: 12 U.S.C. 5512(b)(1), 5497(d).

Source

Source: 78 FR 26501, May 7, 2013, unless otherwise noted.