Dissolution Plan. Monticello will fully cooperate with the Commission in the event of dissolution of the charter. In such cases, the Governing Board of Monticello is responsible for the dissolution of the business affairs of the school. Upon dissolution of Monticello remaining assets will be distributed to creditors pursuant to Sections 30-3-114 and 30-3- 115 of the Idaho Code. All remaining assets will be distributed to the Idaho Public Charter School Commission. All records of students residing in District No. 93 will be immediately transferred to the District. All parents of students will receive written notice of how to request a transfer of student records to a specific school. Monticello will accommodate student record requests from schools outside of Bonneville School District for up to one year after dissolution. This school’s Charter Appendices are on file with the Idaho Public Charter School Commission. Appendix D: Public Charter School Closure Protocol PUBLIC CHARTER SCHOOL COMMISSION CLOSURE PROTOCOL August 2013 Background This Closure Protocol is aligned to Idaho statute and rule and is designed to reflect best practices for managing the school closure process in an organized manner that protects the state, students and the community. The Idaho Public Charter School Commission Closure Protocol is based on the Colorado Charter School Sample Closure Framework released in 2011 and publicly available at xxx.xxxxxxxxxxxxxxxxxxxx.xxx. The Colorado Sample Closure Framework was created through the collaborative work of the Colorado Department of Education, the Colorado League of Charter Schools, and the Colorado Charter School Institute. The Colorado Charter School Sample Closure Framework incorporated information from the following sources:
Dissolution Plan. Ending a partnership is very natural. It could happen due to various reasons, such as achievement of mutual objectives or it just didn’t work out. It’s always better to walk away from a partnership if it’s no longer viable and regroup with new partners instead of forcing a relationship that’s not working. Partnership is often based on a formal commitment that was agreed upon by two or more partners by signing a contract. Similarly, ending the partnership must also be done through a formal dissolution plan, in order to amicably bring the relationship to a closure. The dissolution plan will provide guidelines for formal processes including handing over of things, completion of tasks and all other formalities such as financial procedures, employee contracts, etc.
Dissolution Plan. At the time of the vote to dissolve, the Governing Board must approve a Dissolution Plan outlining the process and procedures for dissolving the Cooperative and providing for the distribution of its assets and liabilities in accordance with the terms and conditions of this Agreement. The Dissolution Plan will identify all outstanding liabilities of ISECC and a plan for extinguishing those liabilities and otherwise gradually concluding the affairs of ISECC. The Dissolution Plan must include a plan for dismissing all employees of ISECC, in accordance with applicable law.
Dissolution Plan. If a Consensual Dissolution Plan is agreed in writing by the Members, such Consensual Dissolution Plan shall be promptly put into effect and dissolution of the Company shall be carried out in accordance with such Consensual Dissolution Plan. If the Members are unable to agree on a Consensual Dissolution Plan within 30 days of the Dissolution Event Notice, then Section 16.6 shall apply.
Dissolution Plan. After the Closing, Futu, will use its reasonable commercial efforts to terminate the businesses of its health care subsidiaries, and dissolve the companies, within three months of the Closing Date.
Dissolution Plan. 8 8.2 Survival of Obligations.............................................................................9 9.
Dissolution Plan. In the event that LOXO shall be dissolved, its affairs shall be wound up as promptly as practicable in accordance with applicable law and the Parties shall develop a mutually agreeable dissolution plan (the "Dissolution Plan") to be administered by the Board of Directors of LOXO. LOXO will be dissolved if the LOXO License Agreement is terminated or, upon mutual agreement of NPAG and BTI. To the extent possible and consistent with applicable law, the Dissolution Plan shall:
Dissolution Plan. Monticello will fully cooperate with the Commission in the event of dissolution of the charter. In such cases, the Governing Board of Monticello is responsible for the dissolution of the business affairs of the school. Upon dissolution of Monticello remaining assets will be distributed to creditors pursuant to Sections 30-3-114 and 30-3- 115 of the Idaho Code. All remaining assets will be distributed to the Idaho Public Charter School Commission. All records of students residing in District No. 93 will be immediately transferred to the District. All parents of students will receive written notice of how to request a transfer of student records to a specific school. Monticello will accommodate student record requests from schools outside of Bonneville School District for up to one year after dissolution. Appendix D: IPCSC Closure Protocol Closure Protocol Idaho Public Charter School Commission 000 Xxxx Xxxxxxxxx Xxxxxx, Xxx. 000 Boise, Idaho 83702 000-000-0000 xxxx@xxxx.xxxxx.xxx Xxxx Xxxx, Chairman Xxxx Xxxxxxxx, Director Purpose This document provides guidance on the public charter school closure process. Authority Title 33, Chapter 52 of Idaho Code, known as the Charter School Act provides for public charter school operations based on a contractual agreement between a charter school board of directors and a state authorized chartering entity, such as the Idaho Public Charter School Commission (IPCSC). Operating contracts, known as Performance Certificates are granted by state authorized chartering entities to the governing board of a non-profit corporation that serves as the charter holder. Performance certificates are limited to five-year terms. Closure protocol is enacted when: • an authorized chartering entity chooses to non-renew a school’s charter pursuant to I.C. § 33- 5209B; • an authorized chartering entity chooses to exercise its right to revoke a charter pursuant to I.C. § 33-5209C; or • a charter holder chooses to relinquish its charter by approval of a resolution. Each authorized chartering entity is required to maintain a closure protocol and is tasked with oversight of the closure process. If closure is due to an IPCSC nonrenewal or revocation decision, written notice will be issued to the school within 14 days of the decision and this closure protocol must begin within 5 days. Roles Authorizer: the authorized chartering entity is responsible to maintain closure protocol and to oversee the closure process. Charter Holder: the charter holder...
