Withdrawal of subdivision from authority--Disposition of assets and liabilities.
A regional authority may be decreased if the commissioners of the regional authority consent to the
decrease. In such event, the commissioners shall provide for the retention and make provisions for
the retention or disposition of its assets and liabilities. However, if the regional authority has any
bonds outstanding no decrease shall be effected unless one hundred percent of the holders of the
bonds consent in writing thereto.
Source: SL 1978, ch 344, § 12.