Common use of Board of Finance Revocation Clause in Contracts

Board of Finance Revocation. If at any time, the GOVERNING BODY’s qualification as a board of finance is revoked by the COMMISSION or the Department, the COMMISSION shall consider whether to commence revocation proceedings to revoke the charter. If the COMMISSION decides not to revoke the charter, the GOVERNING BODY shall be required to develop and successfully implement a Corrective Action Plan to address the conditions and causes that raised for consideration the revocation of the board of finance designation.

Board of Finance Revocation. If at any time, the GOVERNING BODY’s qualification as a board of finance is revoked by the COMMISSION or the Department, the COMMISSION shall consider whether to commence revocation proceedings to revoke the charter. If the COMMISSION decides not to revoke the charter, the GOVERNING BODY shall be required to develop and successfully implement a Corrective Action Plan to address the conditions and causes that raised for consideration the revocation of the board of finance designation.

Board of Finance Revocation. If at any time, the GOVERNING BODY’s qualification as a board of finance is revoked by the COMMISSION or the DepartmentCOMMISSION, the COMMISSION shall consider whether to commence revocation proceedings to revoke the charter. If the COMMISSION decides not to revoke the charter, the GOVERNING BODY shall be required to develop and successfully implement a Corrective Action Plan to address the conditions and causes that raised for consideration the revocation of the board of finance designation.