Section 125.2931 - Dissolution of authority; property and assets. - Michigan Statutes

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Statutes > Michigan > Chapter-125 > Act-61-of-2007 > Section-125-2931

NEIGHBORHOOD IMPROVEMENT AUTHORITY ACT (EXCERPT)
Act 61 of 2007

125.2931 Dissolution of authority; property and assets.

Sec. 21.

An authority that has completed the purposes for which it was organized shall be dissolved by ordinance of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority belong to the municipality.

History: 2007, Act 61, Imd. Eff. Sept. 19, 2007

State Codes and Statutes

Statutes > Michigan > Chapter-125 > Act-61-of-2007 > Section-125-2931

NEIGHBORHOOD IMPROVEMENT AUTHORITY ACT (EXCERPT)
Act 61 of 2007

125.2931 Dissolution of authority; property and assets.

Sec. 21.

An authority that has completed the purposes for which it was organized shall be dissolved by ordinance of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority belong to the municipality.

History: 2007, Act 61, Imd. Eff. Sept. 19, 2007

State Codes and Statutes

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State Codes and Statutes

Statutes > Michigan > Chapter-125 > Act-61-of-2007 > Section-125-2931

NEIGHBORHOOD IMPROVEMENT AUTHORITY ACT (EXCERPT)
Act 61 of 2007

125.2931 Dissolution of authority; property and assets.

Sec. 21.

An authority that has completed the purposes for which it was organized shall be dissolved by ordinance of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority belong to the municipality.

History: 2007, Act 61, Imd. Eff. Sept. 19, 2007