50 CFR § 253.23 - Default and liquidation.

---
identifier: "/us/cfr/t50/s253.23"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "50 CFR § 253.23 - Default and liquidation."
title_number: 50
title_name: "Wildlife and Fisheries"
section_number: "253.23"
section_name: "Default and liquidation."
chapter_name: "NATIONAL MARINE FISHERIES SERVICE, NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT OF COMMERCE"
subchapter_number: "F"
subchapter_name: "AID TO FISHERIES"
part_number: "253"
part_name: "FISHERIES ASSISTANCE PROGRAMS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "46 U.S.C. 53701 and 16 U.S.C. 4101"
regulatory_source: "75 FR 78623, Dec. 16, 2010, unless otherwise noted."
cfr_part: "253"
---


# 253.23 Default and liquidation.

Upon default under the terms of any note, guarantee, security agreement, mortgage, or other security document the Program shall take remedial actions including, but not limited to, where appropriate, retaking or arrest of collateral, foreclosure, restructuring, debarment, referral for debt collection, or liquidation as it deems best able to protect the U.S. Government's interest.