Ala. Code § 24-1A-17
This is the official text of Ala. Code § 24-1A-17, part of Alabama’s Code — part of the compiled statutory law of Alabama, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Section 24-1A-17 Dissolution of Authority; Vesting Title to Property in State
Official statutory text
At any time when an authority has no bonds or other obligations outstanding, its board of directors may by the unanimous vote of all directors present adopt a resolution declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the said resolution in the office of the Secretary of State, the authority shall thereupon stand dissolved and in the event it shall own any property at the time of its dissolution, the title of all its properties shall thereupon pass to the state.
Status: in_force · Read it on the official government site
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