Michigan Laws 125.2219 – Dissolution of authority; resolution; disposition of property and assets
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Terms Used In Michigan Laws 125.2219
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority: means a resort district authority created pursuant to this act. See Michigan Laws 125.2202
- Board: means the governing body of an authority. See Michigan Laws 125.2202
An authority which has completed the purposes for which it was organized shall be dissolved by resolution of the township board. The property and assets of the authority remaining after the satisfaction of the obligations of the authority shall belong to the township.