The three counties may by joint ordinance create the Lake Wateree Marine Advisory Commission. Upon its creation, the commission has the powers, duties, and responsibilities conferred upon it by joint ordinance subject to the laws of the State of South Carolina. The provisions of a joint ordinance may be modified, amended, or rescinded by a later joint ordinance. A county may withdraw unilaterally from participation as required by a joint ordinance or the provisions of this article once the commission is created. A county, by ordinance, may withdraw unilaterally from the commission at the end of a budget period upon ninety days’ prior written notice. If a county withdraws from participation, the commission is dissolved and all property of the commission must be distributed to or divided among the counties and other public agency or agencies serving the Lake Wateree area. Distribution must be in a manner considered equitable by the commission and pursuant to a resolution adopted before the dissolution.