N.Y. Comp. Codes R. & Regs. tit. 9 § 298.14

Current through Register Vol. 46, No. 25, June 18, 2024

Section 298.14 - Liquidation

(a) In the event, or at the time, a determination has been made by State officials to liquidate the SASP, a liquidation plan will be prepared in accordance with FMR 102-37.365 through 102-37.370 of the regulations.

(b) The liquidation plan shall include:

(1) reasons for liquidation;

(2) schedule for liquidating the SASP and estimated date of termination;

(3) method of disposal of any SASP physical and financial assets;

(4) retention of books and records for a two-year period following liquidation; and

(5) designation of another governmental entity to serve as the successor in function until continuing obligations on property donated prior to the closing of the SASP are fulfilled.

(c) Such plan will be submitted to the GSA and approval secured prior to the beginning of the liquidation.

(d) A liquidation plan constitutes a major amendment of an agency's plan of operation and, as such, requires public notice.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 298.14