California Public Utilities Code 107004 – On and after July 1, 2014, the agency is dissolved and the district …
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On and after July 1, 2014, the agency is dissolved and the district succeeds to, and is vested with, all of the rights, powers, duties, and obligations of the agency. The district is the successor to the agency’s assets, interests in any property, its rights and obligations under any contract, any outstanding indebtedness of the agency, and its rights under any grants, without the necessity of any further action.
(Added by Stats. 2013, Ch. 503, Sec. 1. (AB 664) Effective January 1, 2014.)
Terms Used In California Public Utilities Code 107004
- Agency: means Gold Coast Transit, a joint powers agency created pursuant to Article 1 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of . See California Public Utilities Code 107002
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- District: means the Gold Coast Transit District created by this part. See California Public Utilities Code 107002