{"identifier":"/us/usc/t7/s950a","title_num":"7","num":"§ 950a.","heading":"Liquidation or dissolution of telephone bank","status":null,"guid":"idfd8b9144-4154-11e7-afbe-9bf2dd35758d","source_credit":"(May 20, 1936, ch. 432, title IV, § 411, as added Pub. L. 92–12, § 2, May 7, 1971, 85 Stat. 37.)","seq_in_title":727,"parent_identifier":"/us/usc/t7/ch31/schIV","ancestors":[{"identifier":"/us/usc/t7","level":"title","num":"Title 7—","heading":"AGRICULTURE","status":null,"is_section":false},{"identifier":"/us/usc/t7/ch31","level":"chapter","num":"CHAPTER 31—","heading":"RURAL ELECTRIFICATION AND TELEPHONE SERVICE","status":null,"is_section":false},{"identifier":"/us/usc/t7/ch31/schIV","level":"subchapter","num":"SUBCHAPTER IV—","heading":"RURAL TELEPHONE BANK","status":null,"is_section":false}],"xml":"<section xmlns=\"http://xml.house.gov/schemas/uslm/1.0\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\" xmlns:dc=\"http://purl.org/dc/elements/1.1/\" xmlns:dcterms=\"http://purl.org/dc/terms/\" style=\"-uslm-lc:I80\" id=\"id69f893e9-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s950a\"><num value=\"950a\">§ 950a.</num><heading> Liquidation or dissolution of telephone bank</heading><content>\n<p style=\"-uslm-lc:I11\" class=\"indent0\">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.</p>\n</content><sourceCredit id=\"id69f893ea-ec38-11e5-ab42-dae4a1e80e35\">(<ref href=\"/us/act/1936-05-20/ch432\">May 20, 1936, ch. 432</ref>, title IV, § 411, as added <ref href=\"/us/pl/92/12\">Pub. L. 92–12</ref>, § 2, <date date=\"1971-05-07\">May 7, 1971</date>, <ref href=\"/us/stat/85/37\">85 Stat. 37</ref>.)</sourceCredit>\n<notes type=\"uscNote\" id=\"id69f893eb-ec38-11e5-ab42-dae4a1e80e35\">\n<note style=\"-uslm-lc:I74\" topic=\"effectiveDate\" id=\"id69f893ec-ec38-11e5-ab42-dae4a1e80e35\"><heading class=\"centered smallCaps\">Effective Date</heading><p style=\"-uslm-lc:I21\" class=\"indent0\">Section effective <date date=\"1971-05-07\">May 7, 1971</date>, see <ref href=\"/us/pl/92/12/s7\">section 7 of Pub. L. 92–12</ref>, set out as a note under <ref href=\"/us/usc/t7/s921a\">section 921a of this title</ref>.</p>\n</note>\n</notes>\n</section>","provision":null,"duplicates":[],"release":{"label":"115-35","currency_date":"2017-05-17","congress":115,"law_num":35,"excluded_laws":[],"update_num":null,"seq":99,"is_partial":false,"caveat":null,"titles_affected":["01","02","05","05a","06","07","08","10","12","15","16","19","20","21","22","23","26","28","30","31","33","36","38","40","41","42","43","48","49","50","51","54"],"ingested_titles":[]},"served_from":{"label":"115-35","currency_date":"2017-05-17","congress":115,"law_num":35,"excluded_laws":[],"update_num":null,"seq":99,"is_partial":false,"caveat":null,"titles_affected":["01","02","05","05a","06","07","08","10","12","15","16","19","20","21","22","23","26","28","30","31","33","36","38","40","41","42","43","48","49","50","51","54"],"ingested_titles":[]},"content_first_seen":{"label":"114-115","currency_date":"2015-12-28","congress":114,"law_num":115,"excluded_laws":[],"update_num":null,"seq":62,"is_partial":false,"caveat":null,"titles_affected":["02","07","08","10","15","20","21","23","25","26","29","31","40","42","47","49","50"],"ingested_titles":[]},"is_exact":true,"note":null}