7 U.S.C. § 950a : US Code - Section 950A: Liquidation or dissolution of telephone bank

Search 7 U.S.C. § 950a : US Code - Section 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.