§ 33.2-2811 Withdrawal from the Authority
A member of the Authority may withdraw from the participation in and the obligations of the Authority by a resolution or an ordinance of its governing body, and pursuant to such conditions and procedures adopted by the Authority. However, if the Authority has any outstanding bonds or other debt, no member may withdraw from the Authority without the unanimous consent of all the holders of such bonds unless such bonds have been paid or cashed or United States government obligations have been deposited for their payment.
History
This law was first created in 2009. The record of its establishment is cataloged in chapter 645 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2014, chapter 805.
2009, c. 645, § 15.2-7034; 2014, c. 805.