Michigan Laws 125.4627 – Dissolution
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Terms Used In Michigan Laws 125.4627
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority: means a corridor improvement authority created under section 604(1) or a joint authority created under section 604(2). See Michigan Laws 125.4602
- Municipality: means 1 of the following:
(i) A city. See Michigan Laws 125.4602
An authority that has completed the purposes for which it was organized shall be dissolved by resolution of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority belong to the municipality.