Virginia Code 62.1-69.52: Withdrawal; dissolution
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A. A locality may withdraw from the Commission one year after providing written notice to the Commission of its intent to do so.
Terms Used In Virginia Code 62.1-69.52
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
B. The Commission may be dissolved (i) upon three-fourths vote of its members, (ii) if the membership falls below three-fourths of the number of localities eligible for membership in the Commission, or (iii) by repeal or expiration of this chapter.
C. Upon the Commission’s dissolution, all funds and assets of the Commission, including funds received from private sources, shall be divided and distributed on a pro rata basis to the member local governing bodies. All state funds and assets, if any, shall be transferred to the Office of the Secretary of Natural and Historic Resources for appropriate distribution.