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22-21-154
Section 22-21-154 Dissolution. At any time when the authority does not have any bonds outstanding,
the board may adopt a resolution, which shall be duly entered upon its minutes, declaring
that the authority shall be dissolved. Upon the filing for record of a certified copy of said
resolution in the office of the judge of probate of the county, the authority shall, thereupon,
stand dissolved, and in the event that it owned any assets or property at the time of its
dissolution, the title to all its assets and property shall thereupon vest in the municipality.
In the event the authority shall at any time have outstanding bonds issued under this article
payable out of the revenues of different projects, then as and when the principal of and interest
on all bonds payable from the revenues derived from any project shall have been paid in full,
title to the project, with respect to which the bonds so paid in full have been paid, shall
thereupon vest in the municipality, but such vesting of...
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11-49B-19
Section 11-49B-19 Dissolution of authority and vesting of property. At any time when the authority
has no bonds or outstanding obligations, the board may adopt a resolution, which shall be
duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing
for record of a certified copy of the resolution in the office of the judge of probate of
the authorizing county, the authority shall be dissolved and in the event it owned any property
at the time of its dissolution, the title to its properties shall pass to, and vest in the
authorizing county, the principal municipality, and the participating municipalities. The
county and each municipality shall have title to the property as tenant in common. The fractional
interest of the authorizing county, the principal municipality, and each participating municipality
in the property shall be represented by a fraction the numerator of which is the total amount
of fund provided by the authorizing county and each...
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16-17A-23
Section 16-17A-23 Dissolution of authority. (a) At any time when an authority does not have
any indebtedness or other contractual or legal obligations outstanding, an authority may be
dissolved by filing articles of dissolution with the Secretary of State, but only with the
approval of both the board of the authority and the sponsoring university in the manner provided
in this section. (b) In order to dissolve an authority, the following steps shall be completed:
(1) The board shall first adopt a resolution proposing dissolution of the authority. (2) After
the adoption by the board of a resolution approving articles of dissolution, the authority
shall file with the sponsoring university a written request to the sponsoring university for
adoption of a resolution approving dissolution of the authority. (3) As promptly as may be
practicable after the receipt of the application from the authority, the sponsoring university
shall review the application, and its governing body shall adopt a...
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11-101A-24
Section 11-101A-24 Dissolution. At any time when the authority does not have any securities
outstanding, and when there shall be no other obligations assumed by the authority that are
then outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes,
declaring that the authority shall be dissolved. Upon the filing for record of a certified
copy of the resolution in the office of the judge of probate of the county in which the certificate
of incorporation of the authority was filed, the authority shall thereupon stand dissolved.
In the event that the authority owned any assets or property at the time of its dissolution,
the title to all its assets and property shall, subject to any constitutional provision to
the contrary, vest in one or more counties or municipalities in such manner and interests
as may be provided in the certificate of incorporation. If the certificate of incorporation
contains no provision respecting the vesting of title to the assets...
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14-6A-9
Section 14-6A-9 Dissolution. At any time when a regional jail authority has no bonds or other
obligations outstanding, its board may by affirmative vote of a majority of its members, and
with the prior approval of the county commission of each county participating in the regional
jail authority, adopt a resolution declaring its intent that the authority shall be dissolved.
Written notice of intent to dissolve shall be immediately delivered to the county commission
of each county participating in the regional jail authority. Dissolution shall not take place
less than 60 days following the written notice. At the expiration of 60 days and upon the
filing for record of a certified copy of the dissolution resolution in the office of the judge
of probate of the county in which the authority's certificate of incorporation was filed,
the authority shall thereupon stand dissolved and, in the event it owned any property at the
time of its dissolution, the title to all its property shall...
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22-21-339
Section 22-21-339 Dissolution of authority. At any time when the authority does not have any
securities outstanding, and when there shall be no other obligations assumed by the authority
that are then outstanding, the board may adopt a resolution, which shall be duly entered upon
its minutes, declaring that the authority shall be dissolved. Upon the filing for record of
a certified copy of said resolution in the office of the judge of probate in which the certificate
of incorporation of the authority was filed, the authority shall thereupon stand dissolved,
and in the event that it owned any assets or property at the time of its dissolution, the
title to all its assets and property shall, subject to any constitutional provision or inhibition
to the contrary, thereupon vest in one or more counties, municipalities, or educational institutions
in such manner and interests as may be provided in the said certificate of incorporation;
provided however, that if the said certificate of...
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11-92B-20
Section 11-92B-20 Dissolution of authority. (a) If it is determined that it is not possible
for an authority to achieve all of the purposes for which the authority was formed, the authority
may be dissolved by adoption by the board of a resolution that does all of the following:
(1) Determines that it is not possible to achieve all of the purposes for which the authority
was formed. (2) Determines that either all debts and obligations of the authority have been
fully paid or extinguished or that adequate provision has been made for one or more successors
to accept or assume all remaining debts and obligations of the authority, if any, pursuant
to a plan of distribution provided for in its articles of incorporation. (3) Recommends its
dissolution. (b) If it is determined that an authority has achieved all the purposes for which
the authority was formed, the authority shall be dissolved by adoption by the board of a resolution
that does all of the following: (1) Determines that it has...
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45-39-221.11
Section 45-39-221.11 Dissolution of tourism board. At any time when the tourism board does
not have any debt outstanding, and when there shall be no other obligations assumed by the
tourism board that are then outstanding, the board may adopt a resolution, which shall be
duly entered upon its minutes, declaring that the tourism board should be dissolved; provided,
however, that no such resolution may be adopted except upon the affirmative vote of not less
than four directors, with such vote having been taken by yeas and nays and entered upon the
minutes of the board. After the adoption of the resolution by the board, and only if the governing
bodies of the county and the City of Florence each adopt a resolution, which shall be duly
entered upon their respective minutes, approving the dissolution of the tourism board, then,
upon the filing for record in the office of the judge of probate of the county of a certified
copy of each such resolution, the tourism board shall thereupon stand...
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10A-2A-14.05
Section 10A-2A-14.05 Effect of dissolution. (a) A dissolved corporation continues its existence
as a corporation but may not carry on any business except as is appropriate to wind up and
liquidate its business and affairs, including: (1) collecting its assets; (2) disposing of
its properties that will not be distributed in kind to stockholders; (3) discharging or making
provisions for discharging its liabilities; (4) distributing its remaining property among
its stockholders according to their interests; and (5) doing every other act necessary to
wind up and liquidate its business and affairs. (b) In winding up its business and affairs,
a corporation may: (1) preserve the corporation's business and affairs and property as a going
concern for a reasonable time; (2) prosecute, defend, or settle actions or proceedings whether
civil, criminal, or administrative; (3) transfer the corporation's assets; (4) resolve disputes
by mediation or arbitration; (5) merge or convert in accordance with...
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10A-2-14.05
Section 10A-2-14.05 Effect of dissolution. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) A dissolved corporation
continues its corporate existence but may not carry on any business except that appropriate
to wind up and liquidate its business and affairs, including: (1) Collecting its assets; (2)
Disposing of its properties that will not be distributed in kind to its shareholders; (3)
Discharging or making provision for discharging its liabilities; (4) Distributing its remaining
property among its shareholders according to their interests; and (5) Doing every other act
necessary to wind up and liquidate its business and affairs. (b) Dissolution of a corporation
does not: (1) Alter the limited liability status of its subscribers and shareholders under
Section 10A-2-6.22, except as provided in Section 10A-1-9.22(d)(2) with respect to assets
distributed to a shareholder in liquidation; (2) Transfer title to...
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