[Code of Federal Regulations]
[Title 7, Volume 8]
[Revised as of January 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR915.42]

[Page 85-86]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER IX--AGRICULTURAL MARKETING SERVICE (Marketing Agreements and 
      Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE
 
PART 915_AVOCADOS GROWN IN SOUTH FLORIDA--Table of Contents
 
                    Subpart_Order Regulating Handling
 
Sec. 915.42  Accounting.

    (a) If, at the end of a fiscal year, the assessments collected are 
in excess of expenses incurred, such excess shall be accounted for as 
follows:
    (1) Except as provided in paragraph (a)(2) of this section, each 
person entitled to a proportionate refund of the excess assessment shall 
be credited with such refund against the operation of the following 
fiscal year unless such person demands repayment thereof, in which event 
it shall be paid to him: Provided, That any sum paid by a person in 
excess of his pro rata share of the expenses during any fiscal year may 
be applied by the committee at the end of such fiscal year to any 
outstanding obligations due the committee from such person.
    (2) The Secretary, upon recommendation of the committee, may 
determine that it is appropriate for the maintenance and functioning of 
the committee that the funds remaining at the end of a fiscal year which 
are in excess of the expenses necessary for committee operations during 
such year may be carried over into following years as a reserve. Such 
reserve may be established at an amount not to exceed approximately 3 
fiscal years' operational expenses. Funds in the reserve may be used to 
cover the necessary expenses of liquidation, in the event of termination 
of this part, and to cover the expenses incurred for the maintenance and 
functioning of the committee during any fiscal year when there is crop 
failure, or during any period of suspension of any or all of the 
provisions of this part. Such reserve may also be used by the committee 
to finance its operations during any fiscal year prior to the time that 
assessment

[[Page 86]]

income is sufficient to cover such expenses and to cover deficits 
incurred during any fiscal year when income is less than expenses. Upon 
termination of this part, any funds not required to defray the necessary 
expenses of liquidation shall be disposed of in such manner as the 
Secretary may determine to be appropriate: Provided, That to the extent 
practical, such funds shall be returned pro rata to the persons from 
whom such funds were collected.
    (b) All funds received by the committee pursuant to the provisions 
of this part shall be used solely for the purposes specified in this 
part, and shall be accounted for in the manner provided in this part. 
The Secretary may, at any time, require the committee and its members to 
account for all receipts and disbursements.

[19 FR 3439, June 11, 1954, as amended at 22 FR 3513, May 21, 1957. 
Redesignated at 26 FR 12751, Dec. 30, 1961, and amended at 35 FR 16628, 
Oct. 27, 1970; 43 FR 39323, Sept. 5, 1978]

                        Research and Development