N.J.S.A. 52:27H-35 — Dissolution

52:27H-35. Dissolution 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.

This is the verbatim text of N.J.S.A. 52:27H-35, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.