§ 31-3171.15. Dissolution of the Authority.

Current through October 23, 2012

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.

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

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For history of Law 19-94, see notes under § 31-3171.01.