OAR 125-035-0070: Liquidation

Should a determination be made to abolish or liquidate the SASP, advance notice shall be given to General Services Administration, in accordance with the specific requirements of FPMR 101-44.202(c)(14), with the reason for abolition or liquidation; schedule of time to effect the closure; and report to General Services Administration of the Federal surplus property on hand for retransfer, destruction or sale. Physical assets shall be converted to cash, and all cash assets shall be returned to the participating donees in accordance with, and except as otherwise provided or allowed in, ORS 279.822(3). Records and accounting information shall be retained for two years after closure. [Publications: Publications referenced are available from the agency.]