Sec. 10a-109v. Perpetual succession.
Sec. 10a-109v. Perpetual succession. The university shall have perpetual succession as a body politic and corporate and an instrumentality and agency of the state. Such
succession shall continue until the existence of the university is terminated by law, but
no such law shall take effect as long as the university shall have securities and contracts
outstanding unless adequate provision by law is made for the discharge of the obligations
of the university to the holders of such securities and for the protection of those entering
into contracts with the university. Upon termination or dissolution of the university
pursuant to law, all of its rights and properties shall pass to and be vested in its successor
entity and if there is no successor entity, in the state.
(P.A. 95-230, S. 22, 45; P.A. 06-196, S. 74.)
History: P.A. 95-230 effective June 7, 1995; P.A. 06-196 made technical changes, effective June 7, 2006.