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Code · Michigan · Chapter 129 — Public Funds

129.273 Dissolution of authority.

74 words·~1 min read·/mi/chapter-129/129-273

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129.273 Dissolution of authority.
Sec. 13.
The authority may be dissolved by act of the legislature on condition that the authority has no debts or obligations outstanding or that provision has been made for the payment or retirement of all debts or obligations. Upon any such dissolution of the authority, all property, funds, and assets of the authority shall be vested in this state.
History: 2005, Act 226 , Imd. Eff. Nov. 21, 2005
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