(a) 
        
        (1) 
         The Secretary may convert a grant to a cooperative agreement or a cooperative agreement to a grant at the time a continuation award is made under  § 75.253.
     
    
        
        (2) 
         In deciding whether to convert a grant to a cooperative agreement or a cooperative agreement to a grant, the Secretary considers the factors included in  § 75.200(b) (4) and (5).
     
    
        
        (b) 
         The Secretary and a recipient may agree at any time to convert a grant to a cooperative agreement or a cooperative agreement to a grant, subject to the factors included in  § 75.200(b) (4) and (5).
     
    
        
            Code of Federal Regulations
        
        (Authority: 
                20 U.S.C. 1221e-3 and 3474
            )
    
    
        
            Code of Federal Regulations
        
        [57 FR 30339, July 8, 1992]