[Code of Federal Regulations]
[Title 7, Volume 8]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR906.35]

[Page 72]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER IX--AGRICULTURAL MARKETING SERVICE (Marketing Agreements and 
      Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE
 
PART 906_ORANGES AND GRAPEFRUIT GROWN IN LOWER RIO GRANDE VALLEY IN 
 
                    Subpart_Order Regulating Handling
 
Sec.  906.35  Accounting.

    (a) If, at the end of a fiscal period, the assessments collected are 
in excess of expenses incurred, such excess shall be accounted for in 
accordance with one of the following:
    (1) If such excess is not retained in a reserve, as provided in 
paragraph (a)(2) of this section, it shall be refunded proportionately 
to the persons from whom collected.
    (2) The committee, with the approval of the Secretary may carry over 
such excess into subsequent fiscal periods as a reserve: Provided, That 
funds already in the reserve do not equal approximately 1 fiscal 
period's expenses. Such reserve funds may be used for any expenses 
authorized pursuant to Sec.  906.32 and for necessary expenses of 
liquidation in the event of termination of this part. Upon such 
termination, 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. 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.
    (c) Upon the removal or expiration of the terms 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 
the committee, and shall execute such assignments and other instruments 
as may be necessary or appropriate to vest in the committee full title 
to all of the property, funds, and claims vested in such member pursuant 
to this part.
    (d) The committee may make recommendations to the Secretary for one 
or more of the members thereof, or any other person, to act as a trustee 
for holding records, funds, or any other committee property during 
periods of suspension of this subpart, or during any period or periods 
when regulations are not in effect, and if the Secretary determines such 
action appropriate, he may direct that such person or persons shall act 
as trustee or trustees for the committee.

[25 FR 9093, Sept. 22, 1960. Redesignated at 26 FR 12751, Dec. 30, 1961, 
and amended at 31 FR 10462, Aug. 4, 1966]

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