Nebraska Statutes 46-1,162. Merger of districts; election; effect
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If at such election a majority of all votes cast at the election in each district are not in favor of such merger, the merger plan shall be defeated and shall not be placed in effect. If at such election a majority of all votes cast at the election in each district shall be in favor of such merger, the merger shall be effective immediately and the merged district shall assume all rights, assets and liabilities of the merged districts.
Terms Used In Nebraska Statutes 46-1,162
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.