Indiana Code 13-26-6-4. Dissolution of district; distribution of assets
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Sec. 4. If:
(2) the district fails to file a plan for the operation of the district within the time prescribed by the department;
(1) the department determines that the project or operation of the district is not economically feasible, fair, or reasonable; or
Terms Used In Indiana Code 13-26-6-4
- 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.
the department may declare the district dissolved and enter an order for the distribution of all assets owned by the district after the payment of liabilities.
[Pre-1996 Recodification Citation: 13-3-2-5(g) part.]
As added by P.L.1-1996, SEC.16.