Rhode Island General Laws 42-64.14-17. Termination or dissolution of district
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Upon termination or dissolution of the district, the title to all funds and other properties owned by it which remain after payment of all bonds and notes and other obligations and liabilities of the district shall vest in the corporation.
History of Section.
P.L. 2011, ch. 245, § 3; P.L. 2011, ch. 267, § 3.
Terms Used In Rhode Island General Laws 42-64.14-17
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.