---
kind: "section"
citation: "16 C.F.R. § 802.63"
title: "16"
number: "802.63"
heading: "Certain acquisitions by creditors and insurers."
url: "https://uscodex.org/cfr/16/802.63"
---

# §802.63. Certain acquisitions by creditors and insurers.

- (a) **Creditors.** An acquisition of collateral or receivables, or an acquisition in foreclosure, or upon default, or in connection with the establishment of a lease financing, or in connection with a bona fide debt work-out shall be exempt from the requirements of the act if made by a creditor in a bona fide credit transaction entered into in the ordinary course of the creditor's business.
- (b) **Insurers.** An acquisition pursuant to a condition in a contract of insurance relating to fidelity, surety, or casualty obligations shall be exempt from the requirements of the act if made by an insurer in the ordinary course of business.

## Notes

### Authority

Authority: 15 U.S.C. 18a(d).

### Source

Source: 43 FR 33544, July 31, 1978, unless otherwise noted.