§ 160A-349.15. Termination.
§ 160A‑349.15. Termination.
The governing body of the town or city shall have the authority toterminate the existence of the board at any time. In the event of suchtermination, all property and assets of the board shall automatically becomethe property of the town or city and the town or city shall succeed to allrights, obligations and liabilities of the board. Further, in the event of suchtermination, it shall be the duty of the board and its officers to execute allnecessary documents to effect the transfer of property and assets to the townor city. (1979, 2nd Sess.,c. 1247, s. 34.)