New Jersey Statutes
§ 52:27H-35 — Dissolution
New Jersey·Title 52 STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
The authority may be dissolved by law on condition that the authority has no debts, obligations or contractual commitments, or on condition that provision has been made for the payment or retirement of debts and obligations and for the release from or satisfaction of contractual commitments. Upon dissolution of the authority all property, funds and assets thereof shall be vested in the political subdivision with which the authority is currently under contract pursuant to section 9 of this act at the time of dissolution. L.1981, c. 459, s. 7, eff. Jan. 12, 1982.
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Nearby Sections
15
§ 52:27H-1
Short title§ 52:27H-100
Annual report.§ 52:27H-101
Annual review.§ 52:27H-102
Memorandum of understanding.§ 52:27H-103
Certain new applications not accepted.§ 52:27H-2
Findings, determinations; declarations