LAC 34:IX.2701. Procedures and Time Frame

A. In the event of liquidation, or at the time determination has been made by state officials to liquidate the program, a liquidation plan will be prepared in accordance with FPMR 101-44.201.c.14. B. The liquidation plan shall include: 1. reasons for liquidation; 2. schedule and estimated date of termination; 3. method of disposal of surplus property on hand, consistent with the provisions of FPMR 101.44.205; 4. method of disposal of agency's physical and financial assets; 5. retention of books and records for a five-year period following liquidation. C. Such plan will be submitted to GSA and its approval secured prior to the beginning of liquidation.