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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 42 - Public Health |
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Chapter I - Public Health Service, Department of Health and Human Services |
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SubChapter D - Grants |
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Part 57 - Grants for Construction of Teaching Facilities, Educational Improvements, Scholarships and Student Loans |
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Subpart P - Loan Guarantees and Interest Subsidies to Assist in Construction of Teaching Facilities for Health Profession Personnel |
§ 57.1510 - Security for loans.
Latest version.
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§ 57.1510 Security for loans.
Each loan with respect to which a guarantee is made or interest subsidies are paid under this subpart shall be secured in a manner which the Secretary finds reasonably sufficient to insure repayment. The security may be one or a combination of the following:
(a) A first mortgage on the facility and site thereof.
(b) Negotiable stocks or bonds of a quality and value acceptable to the Secretary.
(c) A pledge of unrestricted and unencumbered income from an endowment or other trust fund acceptable to the Secretary.
(d) A pledge of a specified portion of annual general or special revenues of the applicant acceptable to the Secretary.
(e) Such other security as the Secretary may find acceptable in specific instances.