Cost recovery in investor refunds requires defaulters to bear administration and repayment expenses, with priority appropriation if unpaid. All expenses for sale of assets, claim verification, Administrator remuneration and fees to engaged professionals and agents in the recovery and repayment process are to be borne by the defaulter(s); if unpaid, recovered monies will be appropriated in priority to meet these costs. Such costs must be reasonable and directly related to the regulatory acts. If an Administrator is appointed at the request of a person subject to a disgorgement or refund order, that person is liable for the Administrator's remuneration and associated recovery/refund costs.