16 CFR § 802.63 - Certain acquisitions by creditors and insurers.

---
identifier: "/us/cfr/t16/s802.63"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "16 CFR § 802.63 - Certain acquisitions by creditors and insurers."
title_number: 16
title_name: "Commercial Practices"
section_number: "802.63"
section_name: "Certain acquisitions by creditors and insurers."
chapter_name: "FEDERAL TRADE COMMISSION"
subchapter_number: "H"
subchapter_name: "RULES, REGULATIONS, STATEMENTS AND INTERPRETATIONS UNDER THE HART-SCOTT-RODINO ANTITRUST IMPROVEMENTS ACT OF 1976"
part_number: "802"
part_name: "EXEMPTION RULES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 18a(d)."
regulatory_source: "43 FR 33544, July 31, 1978, unless otherwise noted."
cfr_part: "802"
---


# 802.63 Certain acquisitions by creditors and insurers.

(a) *Creditors.* An acquisition of collateral or receivables, or an acquisition in foreclosure, or upon default, or in connection with the establishment of a lease financing, or in connection with a bona fide debt work-out shall be exempt from the requirements of the act if made by a creditor in a bona fide credit transaction entered into in the ordinary course of the creditor's business.

(b) *Insurers.* An acquisition pursuant to a condition in a contract of insurance relating to fidelity, surety, or casualty obligations shall be exempt from the requirements of the act if made by an insurer in the ordinary course of business.

2. This section exempts only the acquisition by the creditor or insurer, and not the subsequent disposition of the assets or voting securities. If a creditor or insurer sells voting securities or assets that have come into its possession in a transaction which is exempt under this section, the requirements of the act may apply to that disposition.