Upon termination or dissolution of the authority, all assets, rights, and properties of the authority under the authority of this subpart shall pass to and be vested in the state to be used for educational purposes, subject to the rights of lienholders and other creditors under this subpart; provided, however, that no such termination or dissolution shall take effect so long as the authority shall have bonds or notes outstanding, unless adequate provision has been made for the payment thereof.
Section: Previous 20-3-345 20-3-346 20-3-347 20-3-348 20-3-349 20-3-350 20-3-351 20-3-352 20-3-353 20-3-354 20-3-355 20-3-356 20-3-357 20-3-358 NextLast modified: October 14, 2016