46A-4-94. Disposal of property--Payment of obligations--Report of board--Filing and recording--Contents--Time for action on unpaid claim.
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/sd/title-46/chapter-46-4/46a-4-94A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
After all the property of the district is disposed of and all of the obligations of such district are paid, the directors of the district shall file in the office of the county auditor of each county in which the district is located, and in the office of the Board of Water and Natural Resources, a report attested by the secretary and under the seal of the board of directors, stating that the district has disposed of its property and franchises and is disorganized and dissolved.
The report shall be recorded in the miscellaneous record of the counties. If any person who has any claim against the district that is not settled or disposed of at the time of the filing of the report fails or neglects to bring suit upon the claim within five years from the time of the filing of the report, the claim is forever barred against the district as well as against all persons and property in the district.