At any time after five years from the date any public hospital district is created, such district may be dissolved following the same procedures for the establishment of the district, set forth in this chapter. However, such district shall not be dissolved if it is indebted in any amount beyond funds immediately available to extinguish all of the debts and obligations of such district.

Source: SL 1959, ch 135, § 18; SDC Supp 1960, § 27.19B18.