Michigan Compiled Laws
Act 226 of 2005 - Michigan Tobacco Settlement Finance Authority Act (129.261 - 129.279)
Section 129.273 - Dissolution of Authority.

Sec. 13.
The authority may be dissolved by act of the legislature on condition that the authority has no debts or obligations outstanding or that provision has been made for the payment or retirement of all debts or obligations. Upon any such dissolution of the authority, all property, funds, and assets of the authority shall be vested in this state.
History: 2005, Act 226, Imd. Eff. Nov. 21, 2005

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 129 - Public Funds

Act 226 of 2005 - Michigan Tobacco Settlement Finance Authority Act (129.261 - 129.279)

Section 129.261 - Short Title.

Section 129.262 - Legislative Findings and Declaration.

Section 129.263 - Definitions.

Section 129.264 - Michigan Tobacco Settlement Finance Authority; Creation; Separate Legal Entity; Issuance of Bonds Generally.

Section 129.265 - Authority; Duties; Administrative Functions.

Section 129.266 - Board of Directors; Membership; Terms; Vacancy; Compensation; Reimbursement; Chairperson; Quorum; Vote; Agents and Employees; Discharge of Duties by Member, Officer, Employee, or Agent; Independent Public Financial Advisor.