S.C. Code Regs. 19-410.14. Liquidation

A.(1) Preparation of Plan (a) In the event of, or at the time a determination has been made by State officials to liquidate the State Agency, a liquidation plan shall be prepared in accordance with FPMR 101-44.202(c)(14). (2) The Plan Will Include: (a) Reasons for Liquidation. (b) Schedule and estimated date of termination. (c) Method of disposal of surplus property on hand, consistent with the provisions of FPMR 101-44.205. (d) Method of disposal of any agency physical and financial assets. (e) Retention of books and records for a two year period following liquidation. (3) Such plan will be submitted to the General Services Administration and approval secured prior to the beginning of the liquidation.