160A-645. Termination.
The Board of Trustees may terminate the existence of the Authority at any time when it has no outstanding indebtedness. In the event of such termination, all property and assets of the Authority not otherwise encumbered shall automatically become the property of the State of North Carolina, and the State of North Carolina shall succeed to all rights, obligations, and liabilities of the Authority. (1997-393, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 160A - Cities and Towns
Article 27 - Regional Transportation Authority.
§ 160A-632 - Definition of territorial jurisdiction of Authority.
§ 160A-633 - Creation of Authority.
§ 160A-634 - Territorial jurisdiction and service area of the Authority.
§ 160A-635 - Membership; officers; compensation.
§ 160A-636 - Voting; action by the Board of Trustees.
§ 160A-637 - Advisory committees.
§ 160A-638 - Purpose of the Authority.
§ 160A-639 - General powers of the Authority.
§ 160A-639.1 - Duties of the chief administrative officer; appointment of clerk.
§ 160A-640 - Authority of Utilities Commission not affected.
§ 160A-641 - Fiscal accountability.
§ 160A-644 - Effect on existing franchises and operations.
§ 160A-646 - Controlling provisions.
§ 160A-647 - Bonds and notes authorized.
§ 160A-648 - Equipment trust certificates.