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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 50 - Wildlife and Fisheries |
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Chapter II - National Marine Fisheries Service, National Oceanic and Atmospheric Administration, Department of Commerce |
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SubChapter K - Continental Shelf |
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Part 296 - Fishermen'S Contingency Fund |
§ 296.14 - Subrogation.
Latest version.
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§ 296.14 Subrogation.
(a) The claim application will contain a subrogation statement signed by the claimant as a condition of payment of the claim which:
(1) Assigns to the Fund the claimant's rights against third parties; and
(2) Provides that the claimant will assist the Fund in any reasonable way to pursue those rights.
(b) Collection of subrogated rights. If a reasonable chance of successful collection exists, NMFS will refer any subrogated rights to the Justice Department for collection.
(c) Any moneys recovered through subrogation shall be deposited into the Fund.
[47 FR 49600, Nov. 1, 1982, as amended at 61 FR 6323, Feb. 20, 1996]