Vermont Statutes Title 33 Sec. 5915
Terms Used In Vermont Statutes Title 33 Sec. 5915
- Default: means the failure of a member state to perform the obligations or responsibilities imposed upon it by this Compact, the bylaws, or rules of the Interstate Commission. See
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Member state: means a state that has enacted this Compact. See
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U. See
- Statute: A law passed by a legislature.
[Contingently enacted.]
§ 5915. Withdrawal and dissolution [Contingently enacted]
(a) Withdrawal.
(1) Once effective, the Compact shall continue in force and remain binding upon each and every member state, provided that a member state may withdraw from the Compact specifically repealing the statute that enacted the Compact into law.
(2) Withdrawal from this Compact shall be by the enactment of a statute repealing the same. The effective date of withdrawal shall be the effective date of the repeal of the statute.
(3) The withdrawing state shall immediately notify the president of the Interstate Commission in writing upon the introduction of legislation repealing this Compact in the withdrawing state. The Interstate Commission shall then notify the other member states of the withdrawing state’s intent to withdraw.
(4) The withdrawing state is responsible for all assessments, obligations, and liabilities incurred through the effective date of withdrawal.
(5) Reinstatement following withdrawal of a member state shall occur upon the withdrawing state reenacting the Compact or upon such later date as determined by the members of the Interstate Commission.
(b) Dissolution of Compact.
(1) This Compact shall dissolve effective upon the date of the withdrawal or default of the member state that reduces the membership in the Compact to one member state.
(2) Upon the dissolution of this Compact, the Compact becomes null and void and shall be of no further force or effect, and the business and affairs of the Interstate Commission shall be concluded and surplus funds shall be distributed in accordance with the bylaws. (Contingently added 2021, No. 101 (Adj. Sess.), § 2.)