15.2-3533 - Transfer of property and indebtedness. - Virginia Statutes

§ 15.2-3533. Transfer of property and indebtedness.

If the proposed consolidation is approved by a majority vote of the voters ofeach locality proposed to be consolidated, voting in the election hereinafterprovided for, then the title to all property shall be vested in, and theindebtedness become a debt of, the respective localities according to theagreement, without any further act or deed.

(Code 1950, § 15-222.2; 1962, c. 623, § 15.1-1134; 1997, c. 587.)