52:27H-35 - Dissolution
52:27H-35.Ā Dissolution
The authority may be dissolved by law on condition that the authority has noĀ debts, obligations or contractual commitments, or on condition that provisionĀ has been made for the payment or retirement of debts and obligations and forĀ the release from or satisfaction of contractual commitments.Ā Upon dissolutionĀ of the authority all property, funds and assets thereof shall be vested in theĀ political subdivision with which the authority is currently under contractĀ pursuant to section 9 of this act at the time of dissolution.
L.1981, c. 459, s. 7, eff. Jan. 12, 1982.
Ā
The authority may be dissolved by law on condition that the authority has noĀ debts, obligations or contractual commitments, or on condition that provisionĀ has been made for the payment or retirement of debts and obligations and forĀ the release from or satisfaction of contractual commitments.Ā Upon dissolutionĀ of the authority all property, funds and assets thereof shall be vested in theĀ political subdivision with which the authority is currently under contractĀ pursuant to section 9 of this act at the time of dissolution.
L.1981, c. 459, s. 7, eff. Jan. 12, 1982.
Ā