Truro City have officially come out of administration following the club's long period of financial turmoil.
The White Tigers were after a year of financial difficulty as former owner Kevin Heaney went bankrupt.
"This effectively draws a line under this avoidable affair and serves as a warning for the future to us all," said chairman Peter Masters.
"Rest assured it will not happen again under our watch."
Masters, and fellow businessman Philip Perryman took over the club last October, and the pair reappointed former boss Steve Massey as manager.
"It now leaves us all to rebuild the club to a sustainable level, which will ultimately decide on what league we play in," Masters added.