920 LIQUIDATION

920.1 A liquidation plan shall be submitted to the appropriate GSA Regional Office in accordance with FPMR 101-44.202(c)(14) prior to actual liquidation. That plan shall include the following information:

1. (a) Reasons for liquidation;
2. (b) A liquidation schedule and an estimated termination date;
3. (c) A method of disposing of surplus property on hand;
4. (d) The method of disposing of the physical and financial assets; and
5. (e) Provisions for the retention of all books and records for a two-year (2) period following liquidation.

920.2 Any funds realized following liquidation shall be deposited in the District of Columbia General Fund.

SOURCE: Final Rulemaking incorporating 24 DCR 1705, 1732 (August 19, 1977).