---
kind: "section"
citation: "22 C.F.R. § 236.11"
title: "22"
number: "236.11"
heading: "Subrogation of USAID."
url: "https://uscodex.org/cfr/22/236.11"
---

# §236.11. 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. 1706(j), Div. F, Public Law 113-6.

### Source

Source: 79 FR 41883, July 18, 2014, unless otherwise noted.