[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: 7CFR927.42]

[Page 211]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER IX--AGRICULTURAL MARKETING SERVICE (Marketing Agreements and 
      Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE
 
PART 927_WINTER PEARS GROWN IN OREGON AND WASHINGTON--Table of Contents
 
                    Subpart_Order Regulating Handling
 
Sec. 927.42  Accounting.

    (a) If, at the end of a fiscal period, the assessments collected are 
in excess of expenses incurred, the committee, with the approval of the 
Secretary, may carryover such excess into subsequent fiscal periods as a 
reserve: Provided, That funds already in the reserve do not exceed 
approximately one fiscal period's expenses. Such reserve may be used (1) 
to cover any expense authorized under this part and (2) to cover 
necessary expenses of liquidation in the event of termination of this 
part. Any such excess not retained in a reserve or applied to any 
outstanding obligation of the person from whom it was collected shall be 
refunded proportionately to the persons from whom it was collected. 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 purpose 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.

[27 FR 93, Jan. 5, 1962]