41 C.F.R. § 102.37.365 — What steps must a SASP take if the State decides to liquidate the agency?
§ 102–37.365 What steps must a SASP take if the State decides to liquidate the agency? Before suspending operations, a SASP must submit to GSA a liquidation plan that includes: (a) Reasons for the liquidation; (b) A schedule for liquidating the agency and the estimated date of termination; (c) Method of disposing of property on hand under the requirements of this part; (d) Method of disposing of the agency's physical and financial assets; (e) Retention of all available records of the SASP for a 2-year period following liquidation; and (f) Designation of another governmental entity to serve as the agency's successor in function until continuing obligations on property donated prior to the closing of the agency are fulfilled.