[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: 7CFR955.44]

[Page 423]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER IX--AGRICULTURAL MARKETING SERVICE (Marketing Agreements and 
      Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE
 
PART 955_VIDALIA ONIONS GROWN IN GEORGIA--Table of Contents
 
Sec. 955.44  Excess funds.

    If, at the end of a fiscal period, the assessments collected are in 
excess of expenses incurred, such excess shall be accounted for as 
follows:
    (a) The committee, with the approval of the Secretary, may establish 
an operating reserve and may carry over to subsequent fiscal periods 
excess funds in a reserve so established, except funds in the reserve 
shall not exceed the equivalent of approximately three fiscal periods' 
budgeted expenses. Such reserve funds may be used:
    (1) To defray any expenses authorized under this part;
    (2) To defray expenses during any fiscal period prior to the time 
assessment income is sufficient to cover such expenses;
    (3) To cover deficits incurred during any fiscal period when 
assessment income is less than expenses;
    (4) To defray expenses incurred during any period when any or all 
provisions of this part are suspended or are inoperative; and
    (5) To cover necessary expenses of liquidation in the event of 
termination of this part.


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 except that to the extent 
practicable, such funds shall be returned pro rata to the persons from 
whom such funds were collected.
    (b) If such excess is not retained in a reserve as provided in 
paragraph (a) of this section, each handler entitled to a proportionate 
refund of the excess assessments collected shall be credited at the end 
of a fiscal period with such refund against the operations of the 
following fiscal period unless such handler demands payment thereof, in 
which event such proportionate refund shall be paid.