Utah Statutes
§ 63B-1-320 — State to succeed to property of authority when encumbrances paid or authority dissolved.
Utah·Title 63B Bonds·Ch. 63B-1 General Provisions·Part 63B-1-3 State Building Ownership Authority Act
(1)Each facility shall immediately vest in and become the property of this state when the obligations encumbering it are paid.
(2)If the authority is dissolved at any time, for any reason, all property of the authority shall immediately vest in and become the property of this state, which shall succeed to all rights of the authority and to any encumbrances which may then exist on any particular facilities, to the extent provided by this part.
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Utah § 63B-1-320 (State to succeed to property of authority when encumbrances paid or authority dissolved.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Renumbered and Amended by Chapter 86, 2003 General Session
Nearby Sections
15
§ 63B-1-101
Definitions.§ 63B-1-201
Members -- Powers and duties -- Per diem.§ 63B-1-301
Title.§ 63B-1-302
Legislative findings.§ 63B-1-303
Definitions.§ 63B-1-305
Powers and duties of authority.§ 63B-1-309
Securing of obligations -- Provisions in mortgages given as security -- Procedure upon default.§ 63B-1-310
Proceeds from sale of obligations -- Use.§ 63B-1-311
Cost of acquiring or constructing facility.