At any time when no bonds of the authority are outstanding, the authority may be dissolved upon the filing with the Secretary of State of an application for dissolution, which shall be subscribed by each of the directors of the authority and sworn to by each director before an officer authorized to take acknowledgments to deeds. Upon the filing of the application for dissolution, the authority shall cease to exist. The Secretary of State shall file and record the application for dissolution in an appropriate book of record in his or her office, and shall make and issue, under the Great Seal of the State, a certificate that the authority is dissolved, and shall record the certificate with the application for dissolution. Title to all property held in the name of the authority shall be vested in the state upon dissolution of the authority.
Structure Code of Alabama
Article 17 - Alabama 21st Century Authority.
Division 1 - Authority Generally.
Section 41-10-620 - Short Title.
Section 41-10-621 - Legislative Findings and Purpose.
Section 41-10-622 - Definitions.
Section 41-10-623 - Incorporation of Authority Authorized; Application; Filing.
Section 41-10-624 - Members, Officers, and Directors.
Section 41-10-625 - Powers of the Authority.
Section 41-10-626 - Bonds of the Authority.
Section 41-10-627 - Refunding Bonds.
Section 41-10-628 - Disposition of Proceeds of Bonds.
Section 41-10-629 - Alabama 21st Century Fund.
Section 41-10-630 - Pledge and Appropriation of Tobacco Revenues to Redeem Bonds.
Section 41-10-631 - Notice; Contested Actions.
Section 41-10-632 - Tax Exemption.
Section 41-10-633 - Notice and Hearing Not Required.
Section 41-10-634 - Application of Other Laws.
Section 41-10-635 - Dissolution.
Section 41-10-636 - Racial and Ethnic Diversity.
Section 41-10-637 - Utilization of Services Provided by Department of Finance.
Section 41-10-638 - Transfers From the Special Fund.
Section 41-10-639 - Liberal Construction.
Section 41-10-640 - Alabama Construction Recruitment Institute - Application.
Section 41-10-641 - Alabama Construction Recruitment Institute - Board of Directors.
Section 41-10-642 - Alabama Construction Recruitment Institute - Powers.
Section 41-10-643 - Alabama Construction Recruitment Institute - Records.