42 C.F.R. § 52i.12

Current through September 30, 2024
Section 52i.12 - What happens if a grantee fails to administer the research endowment grant in accordance with applicable regulations?
(a) The Director, after giving notice and an opportunity for a hearing, may authorize the termination of a grant awarded and/or recovery of funds under this part during the 20-year period if the grantee:
(1) Withdraws or spends any part of the endowment fund corpus in violation of this part;
(2) Spends any portion of the endowment fund income not permitted to be spent in this part;
(3) Fails to invest the endowment fund corpus in accordance with the investment standards set forth in this part;
(4) Fails to meet the requirements in § 52i.7; or
(5) Otherwise fails to comply with the terms and conditions of the award.
(b) Recovery of funds may include up to the amount of endowment awards plus any income earned.

42 C.F.R. §52i.12

80 FR 53746, 9/8/2015