---
kind: "section"
citation: "22 C.F.R. § 235.11"
title: "22"
number: "235.11"
heading: "Subrogation of USAID."
url: "https://uscodex.org/cfr/22/235.11"
---

# §235.11. Subrogation of USAID.


In the event of payment by USAID to a Noteholder under the 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: Sec. 7041(g)(1)(A), Div. K, Pub. L. 113-76, 128 Stat. 5.

### Source

Source: 79 FR 35283, June 20, 2014, unless otherwise noted.