§ 1.970. Standards for compromise.
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/us/cfr/t38/s§ 1.970·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Decisions of the Committee respecting acceptance or rejection of a compromise offer shall be in conformity with the standards in §§ 1.930 through 1.936. In loan guaranty cases the offer of a veteran or other obligor to effect a compromise must relate to an indebtedness established after the liquidation of the security, if any, and shall be reviewed by the Committee. An offer to effect a compromise may be accepted if it is deemed advantageous to the Government. A decision on an offer of compromise may be revised or modified on the basis of any information which would warrant a change in the original decision.
(Authority: 31 U.S.C. 3711; 38 U.S.C. 501, 3720) \[44 FR 59907, Oct. 17, 1979, as amended at 69 FR 62202, Oct. 25, 2004\]
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