DISPOSITION OF PROPERTY AND FUNDS. A. In the event of the dissolution of the Trust or other final termination of the Agreement by all public corporations then parties thereto, any property interest remaining in the Trust following the discharge of all obligations shall be disposed of as provided for by the By-Laws and according to state law.
B. In the event that a member withdraws from this Agreement any property interest of that member remaining in the Trust following discharge of all obligations attributable to that member and its officers and employees shall be disposed of as provided by the By-Laws.
C. Obligations as referred to herein shall include but not be limited to all payments required pursuant to the workers compensation laws of the State of Montana together with all reserves which had been established for the purposes of paying workers compensation claims together with any other legal obligations incurred by the Trust pursuant to this Agreement.
D. After the completion of the purpose of this Agreement, any surplus money on hand shall be returned in proportion to the contributions made, pursuant to Montana state law to each of the participating member public corporations.
DISPOSITION OF PROPERTY AND FUNDS. In the event of the dissolution of this Regional Occupational Center/Program, the complete rescission or other final termination of this agreement by all Districts then a party hereto, any property interest remaining in the Regional Occupational Center/Program following a discharge of obligations, shall be disposed of as the Council shall then determine with the objective of returning to the district or other agency which is then or was theretofore a party to this agreement a proportionate share of any remaining obligations should they exist. Such disposition shall follow to the extent possible the provision set forth below for the withdrawing district(s). In the event a district withdraws from this Agreement, all obligations between the withdrawing district and the Regional Occupational Center/Program shall be discharged through a transfer to the withdrawing district of real and/or personal property and/or funds equal to the withdrawing district's prorate share of the total tangible assets of the Regional Occupational Center/Program no later than one year following the effective date of withdrawal. The Council shall have the right to purchase any or all of the withdrawing district's prorata share of the total tangible assets of the Council excepting permanent improvements made upon real property of the withdrawing district, for an amount equal to the value which otherwise would be credited to the withdrawing district upon withdrawal.
DISPOSITION OF PROPERTY AND FUNDS. 9.1 In the event of the termination of this Agreement and the dissolution of the Authority, any assets that remain in the Authority following a discharge of all of the Authority's obligations will be disposed of as provided in the Bylaws.
9.2 Obligations," as referred to herein, will include, but not be limited to, all payments required by law, together with all reserves established for the purpose of paying liability claims and related claim costs, together with any other legal obligations incurred by the Authority pursuant to this Agreement.
9.3 In the event a Member withdraws from the Authority or has its membership in the Authority involuntarily terminated that Member's interest in the assets of the Authority will be determined as set forth in the Bylaws.
DISPOSITION OF PROPERTY AND FUNDS. A. In the event of the dissolution of the AUTHORITY, the complete rescission, or other final termination of this Agreement by all Members, any property interests, surplus monies or other assets remaining in the AUTHORITY following a discharge of all obligations shall be disposed of by returning to each Member at the date of termination an individual Pro Rata share of said assets which shall be determined in the same manner as for withdrawing Member as provided in Article XIX.
B. The current fair value of properties shall be determined by the AUTHORITY. If the withdrawing or terminating Member disagrees with the current fair value of the AUTHORITY properties as determined by the AUTHORITY, the current fair value of said properties shall be determined by independent consultant selected by the AUTHORITY and paid for by the withdrawing or terminating Member.
DISPOSITION OF PROPERTY AND FUNDS. Upon termination of this Agreement, the Authority forthwith shall wind up its affairs, including discharging all of its outstanding legal obligations. Personal property and funds remaining in the Authority shall be returned to the party from which the funds or personal property were obtained, except as mutually agreed by the parties. All real property owned by the Authority shall be conveyed to the Districts, unless the Authority shall determine otherwise.
DISPOSITION OF PROPERTY AND FUNDS. (a) In the event of the dissolution of the Authority, the complete rescission or other final termination of this Agreement by all public educational agencies then a party hereto, any property interest or surplus moneys remaining in the Authority following a discharge of all obligations shall be disposed of as provided by the Bylaws.
(b) In the even a member withdraws from this Agreement, any property interest of that member remaining in the Authority following discharge of all obligations attributable to that member and its officers and employees shall be disposed of as provided by the Bylaws.
DISPOSITION OF PROPERTY AND FUNDS. (a) Upon the dissolution of the Authority or other final termination of the Agreement, any properties of the Authority shall be liquidated and the funds received, together with other funds on hand, shall be used first to discharge all obligations of the Authority. These obligations shall include all claims for which the Authority may have financial responsibility including claims which have been incurred but not reported, and shall be determined by independent accountants and actuaries selected by the Executive Board. Any surplus funds remaining after payment of or providing for the Authority’s obligations shall be applied in accordance with Subsection (b) below.
(b) Surplus money on hand in a self-insurance pool operated by the Authority shall be returned to present and former Member Agencies who participated in the pool in proportion to contributions made and claims or losses paid as specified in California Government Code Section 6512.2. Any other surplus money remaining on hand shall be returned in proportion to contributions made as specified in California Government Code Section 6512.
DISPOSITION OF PROPERTY AND FUNDS. 9.1 In the event of the termination of this Agreement and the dissolution of the Authority, any assets that remain in the Authority following a discharge of all of the Authority's obligations will be disposed of as provided in the Bylaws.
DISPOSITION OF PROPERTY AND FUNDS. A. In the event of the dissolution of PINCO or the complete rescission or other final termination of this Agreement by all parties, any property interest remaining in PINCO following a discharge of all obligations, shall be disposed of as the PINCO Advisory Committee shall then determine, with the objective of returning to each district its proportionate share of the contributions made to such properties by such district. The inclusion of additional parties to this Agreement or the withdrawal of some but not all of such parties to this Agreement shall not be deemed a dissolution of PINCO or of this Agreement.
1. Each member district assumes responsibility for the continued care and accountability of its portion of raw or processed USDA commodities shipped to PINCO.
2. If the FDP is required to pick up any commodities stored at PINCO storage facilities to return to state warehouses, all member districts shall share proportionately in any costs incurred by FDP, according to the member districts percentage of cases being returned by the FDP.
DISPOSITION OF PROPERTY AND FUNDS. A. In the event of the dissolution of the Authority, the complete recision, or other final termination of this Agreement by the agencies then a “Party” hereto, any property interest remaining in the Authority following a discharge of all obligations shall be distributed to the “Parties” in the same relationship as their total contributions over all program years to the total contributions of all “Parties” over all program years.
B. In the event a “Party” withdraws from this Agreement, any property interest of that “Party” remaining in the Authority following discharge of all obligations shall be disposed of as provided for in the Bylaws. Obligations, as referred to herein, shall include, but not be limited to, all payments required by law together with all “Reserves” which have been established for the purpose of paying incurred claims together with any other legal obligations incurred by the Authority pursuant to this Agreement.
