§ 67. Dissolution. The Utica transit authority may apply to the supreme court in any county within the Utica transit authority's jurisdiction for an order dissolving such authority. The court thereupon shall hold a hearing in open court after such notice of hearing as the court may require. Upon a showing to the satisfaction of the court that provision has been made for the payment or satisfaction of all of the outstanding obligations of the Utica transit authority and for the necessary expenses for the liquidation thereof, the court may order that the Utica transit authority be dissolved. The court shall also provide for disposition of the property of the Utica transit authority.

Terms Used In N.Y. Transportation Law 67

  • Authority: shall mean a public benefit corporation created by section forty-one of this Article -I of the general municipal law. See N.Y. Transportation Law 40
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Property: shall mean both real and personal property. See N.Y. Transportation Law 40
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