§ 63H-7-502. Term of the authority -- Dissolution -- Withdrawal. (Effective 7/1/2014)

(1)

(a) The authority may be dissolved by an act of the Legislature.

(b) Title to all assets of the authority upon its dissolution shall revert to the members and the state pro rata, based upon the total amount of money paid to the authority by each member or the state for services provided to each by the communications network.

(c) The board is authorized to:

(i) take any necessary action to dissolve the authority; and

(ii) dispose of the property of the authority upon its dissolution as provided in Subsection (1)(b).

(2)

(a) Each member may, at any time, withdraw as a member of the authority by delivering to the board a written notice of withdrawal which has been approved by the governing body of the member, except that a member may not withdraw from the authority at any time during which it has an outstanding payment obligation to the authority as a result of having entered into a service contract, lease, or other financial obligation.

(b) Except as provided in Subsection (2)(a), the board shall delete the petitioning member from the membership of the authority as of the date of the board's receipt of the member's notice of withdrawal. The board may not include a member who has given notice of withdrawal in any future obligation of the authority.

Renumbered and Amended by Chapter 320, 2014 General Session