7 USC 950 - Sec. 950a. Liquidation or dissolution of telephone bank
U.S. Code - Title 7: Agriculture
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In the case of liquidation or dissolution of the telephone bank, after the payment or retirement, as the case may be, first, of all liabilities; second, of all class A stock at par; third, of all class B stock at par; fourth, of all class C stock at par; then any surpluses and contingency reserves existing on the effective date of liquidation or dissolution of the telephone bank shall be paid to the holders of class A and class B stock issued and outstanding before the effective date of such liquidation or dissolution, pro rata.
Effective Date
Section effective May 7, 1971, see section 7 of Pub. L. 92-12, set out as a note under section 921a of this title.
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