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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 44 - Emergency Management and Assistance |
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Chapter I - Federal Emergency Management Agency, Department of Homeland Security |
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SubChapter A - General |
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Part 11 - Claims |
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Subpart C - XXX |
§ 11.46 - Liquidation of collateral.
Latest version.
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Where FEMA holds security or collateral that may be liquidated and the proceeds applied on debts due it through the exercise of a power of sale in the security instrument or a nonjudicial foreclosure, such procedures should be followed if the debtor fails to pay his debt within a reasonable time after demand, unless the cost of disposing of the collateral will be disproportionate to its value or special circumstances require judicial foreclosure.