§ 63A-25. Dissolution. - North Carolina Statutes

§63A‑25.  Dissolution.

Whenever the Board shall byresolution determine that the purposes for which the Authority was formed havebeen substantially fulfilled and that all bonds issued and all otherobligations incurred by the Authority have been fully paid or satisfied, theBoard may declare the Authority to be dissolved.  On the effective date of theresolution, the title to all funds and other property owned by the Authority atthe time of the dissolution shall vest in the State and possession of the fundsand other property shall be delivered to the State.  (1991,c. 749, s. 1.)