If at any time the corporation shall have outstanding no unpaid securities and if each member of the board of directors of the corporation shall execute and file for record in the office of the judge of probate of the county in which the corporation is organized a certificate of dissolution reciting the fact that the corporation has outstanding no unpaid securities, stating that it is in the best interests of the public for the corporation to be dissolved and declaring the corporation to be dissolved, the corporation shall thereupon stand dissolved, and title to all funds and properties owned by it at the time of such dissolution shall vest, jointly, in the county and the largest of the member municipalities, according to the federal decennial census next preceding the date of the filing of the certificate of incorporation of the corporation for record, whereupon possession of such funds and properties shall forthwith be delivered to the county and such largest member municipality.
Structure Code of Alabama
Title 22 - Health, Mental Health, and Environmental Control.
Title 1 - Health and Environmental Control Generally.
Chapter 21 - Hospitals and Other Health Care Facilities Generally.
Article 6 - County and Municipal Hospital Authorities.
Section 22-21-170 - Definitions.
Section 22-21-171 - Purpose and Construction of Article.
Section 22-21-172 - Incorporation - Authority.
Section 22-21-173 - Incorporation - Certificate of Incorporation - Contents; Acknowledgment; Filing.
Section 22-21-174 - Incorporation - Certificate of Incorporation - Amendment.
Section 22-21-175 - Board of Directors.
Section 22-21-176 - Officers; Personnel.
Section 22-21-177 - Formation of Other Corporations.
Section 22-21-178 - Governmental Sovereignty or Immunity.
Section 22-21-179 - Powers of Corporation.
Section 22-21-180 - Eminent Domain.
Section 22-21-181 - Transfer of Funds and Assets by Counties and Municipalities.
Section 22-21-183 - Disposition of Proceeds From Borrowing.
Section 22-21-184 - Refunding Securities.
Section 22-21-185 - Fiduciary Investment.
Section 22-21-186 - Corporation Tax Exempt.
Section 22-21-187 - Publication of Financial Statement.
Section 22-21-188 - Provisions Exclusive.
Section 22-21-190 - Applicability of State Competitive Bid Law, Etc.