Virginia § 33.2-2811 Withdrawal from the Authority

Virginia Statutes

§ 33.2-2811 — Withdrawal from the Authority

Virginia § 33.2-2811

Title 33.2HIGHWAYS AND OTHER SURFACE TRANSPORTATION SYSTEMS

Subtitle IVLOCAL AND REGIONAL TRANSPORTATION

Ch. 28CHARLOTTESVILLE-ALBEMARLE REGIONAL TRANSIT AUTHORITY

This text of Virginia § 33.2-2811 (Withdrawal from the Authority) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 33.2-2811 (2026).

Text

A member of the Authority may withdraw from the participation in and the obligations of the Authority by a resolution or an ordinance of its governing body, and pursuant to such conditions and procedures adopted by the Authority. However, if the Authority has any outstanding bonds or other debt, no member may withdraw from the Authority without the unanimous consent of all the holders of such bonds unless such bonds have been paid or cashed or United States government obligations have been deposited for their payment.

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A member of the Authority may withdraw from the participation in and the obligations of the Authority by a resolution or an ordinance of its governing body, and pursuant to such conditions and procedures adopted by the Authority. However, if the Authority has any outstanding bonds or other debt, no member may withdraw from the Authority without the unanimous consent of all the holders of such bonds unless such bonds have been paid or cashed or United States government obligations have been deposited for their payment.