Rhode Island General Laws 45-67-15. Reversion upon dissolution or termination
Upon dissolution or termination of the utility district, the assets of the utility district that remain after payment, or making provision for payment, of all bonds, notes, and other obligations of the utility district shall be distributed to the town of New Shoreham or as ordered by a court of proper jurisdiction.
History of Section.
P.L. 2017, ch. 280, § 1; P.L. 2017, ch. 293, § 1.
Terms Used In Rhode Island General Laws 45-67-15
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
- Utility district: means the Block Island utility district, a quasi-municipal corporation, having a distinct legal existence from the state, established and empowered by this chapter to:
(i) Fulfill electric utility functions, powers, rights, and obligations;
(ii) Exercise certain powers as an electric distribution company and power producer; and
(iii) Provide additional utility services not inconsistent with the duties, powers and obligations of the utility district as defined in this section. See Rhode Island General Laws 45-67-2