§ 23-50.16:15. Public purpose
The exercise of the powers granted by this chapter shall be in all respects for the benefit of the inhabitants of the Commonwealth and for the promotion of their safety, health, welfare, knowledge, convenience and prosperity. No part of the assets or net earnings of the Authority shall inure to the benefit of, or be distributable to, any private individual, except that reasonable compensation may be paid for services rendered to or for the Authority affecting one or more of its purposes, and benefits may be conferred that are in conformity with said purposes, and no private individual shall be entitled to share in the distribution of any of the corporate assets on dissolution of the Authority.
(1996, cc. 905, 1046.)
Sections: Previous 23-50.16:8 23-50.16:9 23-50.16:10 23-50.16:11 23-50.16:12 23-50.16:13 23-50.16:14 23-50.16:15 23-50.16:16 23-50.16:17 23-50.16:18 23-50.16:19 23-50.16:20 23-50.16:21 23-50.16:22 NextLast modified: April 3, 2009