77-5-43 - Assets of authority shall pass to state upon cessation of authority's existence.
§ 77-5-43. Assets of authority shall pass to state upon cessation of authority's existence.
In the event that the authority shall cease to exist, all of its assets remaining after all of its obligations and liabilities have been satisfied or discharged shall pass to and become the property of the state.
Sources: Codes, 1942, § 5521; Laws, 1936, ch. 183.