Utah Admin. Code R65-11-8 - Termination of Order - Proceeds After Termination
(1) The commissioner may terminate the order
at any time as may be determined there is no longer an industry need for the
order.
(2) Upon the termination of
the order, the then functioning members of the board shall, to liquidate the
affairs of the board, continue as trustees of the funds and property then in
its possession, or under its control, including claims for any funds unpaid or
property not delivered at termination.
(3) The trustees shall:
(a) continue in their capacity until
discharged by the commissioner upon dissolution of the board;
(b) liquidate any property then it its
possession;
(c) dispose of funds in
a manner as the commissioner may determine to be appropriate; and
(d) to the extent practicable, proportionally
return funds to the persons from whom the funds were
collected.
Notes
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