§ 20-38-3-16 — Withdrawal and dissolution

ARTICLE XVI. WITHDRAWAL AND
DISSOLUTION
A. Withdrawal
1. Once effective, this compact continues in force and remains
binding upon each and every member state. However, a member
state may withdraw from this compact by repealing the statute
that enacted the compact into law.
2. Withdrawal from this compact shall be by repealing the statute
that enacted this compact into law but does not take effect until
one (1) year after the effective date of the repealing statute and
until written notice of the withdrawal has been given by the
withdrawing state to the governor of each other member state.
3. The withdrawing state shall immediately notify the chairperson
of the interstate commission in writing upon the introduction of
legislation repealing this compact in the withdrawing state. The
interstate commission shall notify the other member states of the
withdrawing state's intent to withdraw within sixty (60) days of its
receipt of the written notification.
4. The withdrawing state is responsible for all assessments,
obligations, and liabilities incurred through the effective date of
its withdrawal, including obligations, the performance of which
extend beyond the effective date of withdrawal.
5. Reinstatement following withdrawal of a member state shall
occur upon the withdrawing state reenacting this compact or upon
a later date as determined by the interstate commission.
B. Dissolution of Compact
1. This compact dissolves effective upon the date of the
withdrawal or default of the member state that reduces the
membership in the compact to one (1) member state.
2. Upon the dissolution of this compact, this compact becomes
void and is of no further force or effect, and the business and
affairs of the interstate commission shall be concluded, and
surplus funds shall be distributed, in accordance with the bylaws.

Legislative History

As added by P.L.21-2009, SEC.1.