Section 140. Liquidation

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The State Agency will submit a liquidation plan to federal General Services Administration prior to the actual termination of State Agency activities in accordance with the specific requirements of FMR 102-37.365 through 102-37.370. The plan will include:

1. Reasons for the liquidation;

2. A schedule for liquidating the agency and the estimated date of termination;

3. Method of disposing of surplus property on hand, consistent with the provisions of FMR 102-37, Subpart D;

4. Method of disposing of the agency's physical and financial assets; and

5. Retention of all available books and records of the State Agency for a two-year period following liquidation.

Historical Notes

Derived from VR330-04-03 §XIV, eff. September 20, 1984; amended, Volume 29, Issue 17, eff. May 22, 2013.

Statutory Authority

§ 2.2-1123 of the Code of Virginia.

                    
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