15.2-7034 - Withdrawal from the Authority.
§ 15.2-7034. Withdrawal from the Authority.
A member of the Authority may withdraw from the participation in and theobligations of the Authority by a resolution or ordinance of its governingbody, and pursuant to such conditions and procedures adopted by theAuthority. However, if the Authority has any outstanding bonds or other debt,no member may withdraw from the Authority without the unanimous consent ofall the holders of such bonds unless such bonds have been paid or cashed orUnited States government obligations have been deposited for their payment.
(2009, c. 645.)