52:27H-35 - Dissolution - New Jersey Statutes

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.