---
kind: "section"
citation: "22 C.F.R. § 233.11"
title: "22"
number: "233.11"
heading: "Subrogation of USAID."
url: "https://uscodex.org/cfr/22/233.11"
---

# §233.11. Subrogation of USAID.


In the event of payment by USAID to a Noteholder under this Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.


## Notes

### Authority

Authority: Title III of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2012, Division I, Pub. L. 112-74, as applied to fiscal year 2013 funding by section 1706(j) of the Further Continuing Appropriations Act, 2013, Division F, Pub. L. 113-6.

### Source

Source: 78 FR 64175, Oct. 28, 2013, unless otherwise noted.