[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: 7CFR928.42]

[Page 227]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER IX--AGRICULTURAL MARKETING SERVICE (Marketing Agreements and 
      Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE
 
PART 928_PAPAYAS GROWN IN HAWAII--Table of Contents
 
                    Subpart_Order Regulating Handing
 
Sec. 928.42  Accounting.

    (a) If, at the end of a fiscal year the assessments collected are in 
excess of expenses incurred, such expenses shall be accounted for as 
follows:
    (1) Except as provided in paragraphs (a) (2) and (3) of this 
section, each person entitled to a proportionate refund of any excess 
assessment shall be credited with such refund against the operation of 
the following fiscal year unless such person demands payment thereof, in 
which event it shall be paid to him: Provided, That any sum paid by a 
person in excess of this 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 from such person.
    (2) The committee, with the approval of the Secretary, may establish 
and maintain during one or more fiscal years, an operating monetary 
reserve in an amount not to exceed approximately 1 fiscal year's 
operational expense. Upon approval by the Secretary, funds in such 
reserve shall be available for use by the committee for all expenses 
pursuant to Sec. 928.40.
    (3) 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 will 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.
    (c) Upon the removal or expiration of the term of office of any 
member of the committee, such member shall account for all receipts and 
disbursements and deliver all property and funds in his possession to 
his successor in office and shall execute such assignments and other 
instruments as may be necessary or appropriate to vest in such successor 
full title to all of the property, funds and claims vested in such 
member pursuant to this part.

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