Section R65-11-8 - Termination of Order - Proceeds After Termination(1) The commissioner may terminate the order at any time as may be determined there is no longer an industry need for the order.(2) Upon the termination of the order, the then functioning members of the board shall, to liquidate the affairs of the board, continue as trustees of the funds and property then in its possession, or under its control, including claims for any funds unpaid or property not delivered at termination.(3) The trustees shall: (a) continue in their capacity until discharged by the commissioner upon dissolution of the board;(b) liquidate any property then it its possession;(c) dispose of funds in a manner as the commissioner may determine to be appropriate; and(d) to the extent practicable, proportionally return funds to the persons from whom the funds were collected.Utah Admin. Code R65-11-8
Amended by Utah State Bulletin Number 2023-13, effective 6/22/2023