The Board of Trustees may terminate the existence of the Authority at any time when it has no outstanding indebtedness. In the event of such termination, all property and assets of the Authority not otherwise encumbered shall automatically become the property of the State of North Carolina, and the State of North Carolina shall succeed to all rights, obligations, and liabilities of the Authority. (1997-393, s. 1.)
Sections: Previous 160A-638 160A-639 160A-640 160A-641 160A-642 160A-643 160A-644 160A-645 160A-646 160A-647 160A-648 160A-649 160A-650 160A-651 160A-660 Next
Last modified: March 23, 2014