N.Y. Comp. Codes R. & Regs. tit. 1 § 19.4

Current through Register Vol. 46, No. 50, December 11, 2024

Section 19.4 - Continuity and separability of provisions

(a) Effective time. The provisions of the order or any amendment to the order shall become effective at such time as the commissioner may declare and shall continue in force until suspended or terminated.

(b) Suspension or termination. The commissioner shall suspend or terminate any or all of the provisions of the order whenever he finds that such provision(s) obstructs or does not tend to effectuate the declared policy of the statute. The order shall terminate whenever the provisions of the statute authorizing it cease to be in effect.

(c) Continuing obligations. If, upon the suspension or termination of any or all of the provisions of the order, there are any obligations arising under the order, the final accrual or ascertainment of which requires acts by any handler, by the market administrator or by any other person, the power and duty to perform such further acts shall continue notwithstanding such suspension or termination.

(d) Liquidation.

(1) Upon the suspension or termination of any or all provisions of the order, the market administrator, or such other liquidating agent designated by the commissioner, shall, if so directed the commissioner, liquidate the business of the market administrator's office, dispose of all property in his possession or control, including accounts receivable, and execute and deliver all assignments or other instruments necessary or appropriate to effectuate any such disposition.

(2) If a liquidating agent is so designated, all assets and records of the market administrator shall be transferred promptly to such liquidating agent. If, upon such liquidation, the funds on hand exceed the amounts required to pay outstanding obligations of the office of the market administrator and to pay necessary expenses of liquidation and distribution, such excess shall be distributed to contributing handlers and producers in an equitable manner.

(e) Separability of provisions. If any provision of the order or its application to any person or circumstance is held invalid, the application of such provision and of the remaining provisions of the order to other persons or circumstances shall not be affected hereby.

N.Y. Comp. Codes R. & Regs. Tit. 1 § 19.4