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This entry was published on 2014-09-22
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SECTION 67
Dissolution
Transportation (TRA) CHAPTER 61-A, ARTICLE 2-D
§ 67. Dissolution. The Utica transit authority may apply to the
supreme court in any county within the Utica transit authority's
jurisdiction for an order dissolving such authority. The court thereupon
shall hold a hearing in open court after such notice of hearing as the
court may require. Upon a showing to the satisfaction of the court that
provision has been made for the payment or satisfaction of all of the
outstanding obligations of the Utica transit authority and for the
necessary expenses for the liquidation thereof, the court may order that
the Utica transit authority be dissolved. The court shall also provide
for disposition of the property of the Utica transit authority.