Sec. 41. An authority may be liquidated after redemption of the authority’s securities, payment of the authority’s debts, and termination of the authority’s leases if the governing board files a report with the circuit court, superior court, or probate court showing the facts and stating that liquidation is in the best public interest. If the court finds the facts, the court shall make an order book entry ordering the authority liquidated.

[Pre-1993 Recodification Citation: 16-12-20.5-26.]

As added by P.L.2-1993, SEC.5. Amended by P.L.84-2016, SEC.89.