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The DC Code: § 31-3171.15 Dissolution of the Authority.

Index31 Insurance and Securities. (Refs & Annos)

Upon dissolution, liquidation, or other termination of the Authority:

1
All rights and properties of the Authority shall pass to and be vested in the District, subject to the rights of lien holders and other creditors;
2
Any net earnings of the Authority, beyond that necessary for retirement of any indebtedness or to implement a public purpose or program of the District authorized under this chapter, shall not inure to the benefit of any person other than the District;
3
The expenditure of any net earnings shall be restricted to costs related to the direct delivery of health care to residents of the District.

Historical and Statutory

Legislative History of Laws For history of Law 19-94, see notes under § 31-3171.01. DC CODE § 31-3171.15 Current through December 11, 2012

Credits

(Mar. 2, 2012, D.C. Law 19-94, § 16, 59 DCR 213.)