
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC950a]

 
                          TITLE 7--AGRICULTURE
 
         CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE
 
                   SUBCHAPTER IV--RURAL TELEPHONE BANK
 
Sec. 950a. Liquidation or dissolution of telephone bank

    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.

(May 20, 1936, ch. 432, title IV, Sec. 411, as added Pub. L. 92-12, 
Sec. 2, May 7, 1971, 85 Stat. 37.)


                             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.
