{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5431.9.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5431.9.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5431.9.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5431.9.html"}],"law_id":83003,"edition_id":1,"section_id":83003,"structure_id":13386,"section_number":"15.2-5431.9","catch_line":"Dissolution and termination of authority","history":"2003, c. 643; 2021, Sp. Sess. I, c. 487.","full_text":"A\n\nWhenever the board of an authority determines that the purposes for which it was created have been completed or are impractical or impossible and that all its obligations have been paid or have been assumed by one or more of such political subdivisions or any authority created thereby or that cash or United States government securities have been deposited for their payment, it shall adopt and file with the governing body a resolution declaring such facts. If the governing body adopts a resolution concurring in such declaration and finding that the authority should be dissolved, it shall file appropriate articles of dissolution with the State Corporation Commission. When the affairs of the authority have been wound up and all of its assets have been distributed, the governing bodies shall file appropriate articles of termination of corporate existence with the State Corporation Commission.B\n\nIf any of the governing bodies refuses to adopt a resolution concurring in such declaration, then the authority may petition the circuit court for any locality that is a member of the authority to order one or more of such governing bodies to create a new authority. The circuit court may order the governing body of the political subdivision requesting dissolution of the existing authority to adopt an ordinance establishing a new authority to which the provisions of §§ 15.2-5431.3 through 15.2-5431.6 shall not apply. Thereafter, the court may order that the assets be divided among the authorities and, subject to the approval of any debt holder, require the assumption of a proportionate share of the obligations of the existing authority by the new authority.C\n\nNotwithstanding the provisions of subdivision 1 of § 15.2-5431.11, an authority shall continue in existence and shall not be dissolved because the term for which it was created, including any extensions thereof, has expired, unless all of such authority’s functions have been taken over and its obligations have been paid or have been assumed by one or more political subdivisions or by an authority created thereby, or cash or United States government securities have been deposited for their payment.","order_by":null,"text":{"0":{"id":297546,"text":"Whenever the board of an authority determines that the purposes for which it was created have been completed or are impractical or impossible and that all its obligations have been paid or have been assumed by one or more of such political subdivisions or any authority created thereby or that cash or United States government securities have been deposited for their payment, it shall adopt and file with the governing body a resolution declaring such facts. If the governing body adopts a resolution concurring in such declaration and finding that the authority should be dissolved, it shall file appropriate articles of dissolution with the State Corporation Commission. When the affairs of the authority have been wound up and all of its assets have been distributed, the governing bodies shall file appropriate articles of termination of corporate existence with the State Corporation Commission.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":297547,"text":"If any of the governing bodies refuses to adopt a resolution concurring in such declaration, then the authority may petition the circuit court for any locality that is a member of the authority to order one or more of such governing bodies to create a new authority. The circuit court may order the governing body of the political subdivision requesting dissolution of the existing authority to adopt an ordinance establishing a new authority to which the provisions of §§ 15.2-5431.3 through 15.2-5431.6 shall not apply. Thereafter, the court may order that the assets be divided among the authorities and, subject to the approval of any debt holder, require the assumption of a proportionate share of the obligations of the existing authority by the new authority.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":297548,"text":"Notwithstanding the provisions of subdivision 1 of § 15.2-5431.11, an authority shall continue in existence and shall not be dissolved because the term for which it was created, including any extensions thereof, has expired, unless all of such authority’s functions have been taken over and its obligations have been paid or have been assumed by one or more political subdivisions or by an authority created thereby, or cash or United States government securities have been deposited for their payment.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13386,"edition_id":1,"name":"Virginia Wireless Service Authorities Act","identifier":"54.1","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:44:46","date_modified":"2026-06-26 03:44:46","permalink":{"id":159317,"object_type":"structure","relational_id":13386,"identifier":"54.1","token":"15.2\/IV\/54.1","url":"\/15.2\/IV\/54.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61785,"structure_id":13386,"section_number":"15.2-5431.1","catch_line":"Title of chapter; construction","url":"\/15.2-5431.1\/","token":"15.2\/IV\/54.1\/15.2-5431.1","metadata":false},{"id":71650,"structure_id":13386,"section_number":"15.2-5431.10","catch_line":"Members of authority board; chief administrative or executive officer","url":"\/15.2-5431.10\/","token":"15.2\/IV\/54.1\/15.2-5431.10","metadata":false},{"id":70147,"structure_id":13386,"section_number":"15.2-5431.11","catch_line":"Powers of authority","url":"\/15.2-5431.11\/","token":"15.2\/IV\/54.1\/15.2-5431.11","metadata":false},{"id":61982,"structure_id":13386,"section_number":"15.2-5431.12","catch_line":"Contracts relating to use of systems","url":"\/15.2-5431.12\/","token":"15.2\/IV\/54.1\/15.2-5431.12","metadata":false},{"id":82027,"structure_id":13386,"section_number":"15.2-5431.13","catch_line":"Insurance for employees","url":"\/15.2-5431.13\/","token":"15.2\/IV\/54.1\/15.2-5431.13","metadata":false},{"id":56110,"structure_id":13386,"section_number":"15.2-5431.14","catch_line":"Issuance of revenue bonds","url":"\/15.2-5431.14\/","token":"15.2\/IV\/54.1\/15.2-5431.14","metadata":false},{"id":81744,"structure_id":13386,"section_number":"15.2-5431.15","catch_line":"Time for contesting validity of proposed bond issue; when bonds presumed valid","url":"\/15.2-5431.15\/","token":"15.2\/IV\/54.1\/15.2-5431.15","metadata":false},{"id":86453,"structure_id":13386,"section_number":"15.2-5431.16","catch_line":"Proceeds of bonds","url":"\/15.2-5431.16\/","token":"15.2\/IV\/54.1\/15.2-5431.16","metadata":false},{"id":84441,"structure_id":13386,"section_number":"15.2-5431.17","catch_line":"Interim receipts and temporary bonds; bonds mutilated, lost or destroyed","url":"\/15.2-5431.17\/","token":"15.2\/IV\/54.1\/15.2-5431.17","metadata":false},{"id":85429,"structure_id":13386,"section_number":"15.2-5431.18","catch_line":"Provisions of chapter only requirements for issue","url":"\/15.2-5431.18\/","token":"15.2\/IV\/54.1\/15.2-5431.18","metadata":false},{"id":64093,"structure_id":13386,"section_number":"15.2-5431.19","catch_line":"Limitations in bond resolution or trust agreement","url":"\/15.2-5431.19\/","token":"15.2\/IV\/54.1\/15.2-5431.19","metadata":false},{"id":58403,"structure_id":13386,"section_number":"15.2-5431.2","catch_line":"Definitions","url":"\/15.2-5431.2\/","token":"15.2\/IV\/54.1\/15.2-5431.2","metadata":false},{"id":80546,"structure_id":13386,"section_number":"15.2-5431.20","catch_line":"Bonds not debts of Commonwealth or participating political subdivision","url":"\/15.2-5431.20\/","token":"15.2\/IV\/54.1\/15.2-5431.20","metadata":false},{"id":84207,"structure_id":13386,"section_number":"15.2-5431.21","catch_line":"Exemption from taxation","url":"\/15.2-5431.21\/","token":"15.2\/IV\/54.1\/15.2-5431.21","metadata":false},{"id":57496,"structure_id":13386,"section_number":"15.2-5431.22","catch_line":"Trust agreement; bond resolution","url":"\/15.2-5431.22\/","token":"15.2\/IV\/54.1\/15.2-5431.22","metadata":false},{"id":67883,"structure_id":13386,"section_number":"15.2-5431.23","catch_line":"Disposition of unclaimed funds due on matured bonds or coupons","url":"\/15.2-5431.23\/","token":"15.2\/IV\/54.1\/15.2-5431.23","metadata":false},{"id":73153,"structure_id":13386,"section_number":"15.2-5431.24","catch_line":"Contracts concerning interest rates, currency, cash flow and other basis","url":"\/15.2-5431.24\/","token":"15.2\/IV\/54.1\/15.2-5431.24","metadata":false},{"id":67301,"structure_id":13386,"section_number":"15.2-5431.25","catch_line":"Rates and charges","url":"\/15.2-5431.25\/","token":"15.2\/IV\/54.1\/15.2-5431.25","metadata":false},{"id":59135,"structure_id":13386,"section_number":"15.2-5431.26","catch_line":"Enforcement of charges","url":"\/15.2-5431.26\/","token":"15.2\/IV\/54.1\/15.2-5431.26","metadata":false},{"id":54359,"structure_id":13386,"section_number":"15.2-5431.27","catch_line":"Lien for charges","url":"\/15.2-5431.27\/","token":"15.2\/IV\/54.1\/15.2-5431.27","metadata":false},{"id":77572,"structure_id":13386,"section_number":"15.2-5431.28","catch_line":"Trust funds","url":"\/15.2-5431.28\/","token":"15.2\/IV\/54.1\/15.2-5431.28","metadata":false},{"id":85539,"structure_id":13386,"section_number":"15.2-5431.29","catch_line":"Bondholder's remedies","url":"\/15.2-5431.29\/","token":"15.2\/IV\/54.1\/15.2-5431.29","metadata":false},{"id":87499,"structure_id":13386,"section_number":"15.2-5431.3","catch_line":"Creation of authority","url":"\/15.2-5431.3\/","token":"15.2\/IV\/54.1\/15.2-5431.3","metadata":false},{"id":61565,"structure_id":13386,"section_number":"15.2-5431.30","catch_line":"Refunding bonds","url":"\/15.2-5431.30\/","token":"15.2\/IV\/54.1\/15.2-5431.30","metadata":false},{"id":75635,"structure_id":13386,"section_number":"15.2-5431.31","catch_line":"Purchase in open market or otherwise","url":"\/15.2-5431.31\/","token":"15.2\/IV\/54.1\/15.2-5431.31","metadata":false},{"id":63793,"structure_id":13386,"section_number":"15.2-5431.32","catch_line":"Investment in bonds","url":"\/15.2-5431.32\/","token":"15.2\/IV\/54.1\/15.2-5431.32","metadata":false},{"id":67014,"structure_id":13386,"section_number":"15.2-5431.33","catch_line":"Financial report; authority budget; audit","url":"\/15.2-5431.33\/","token":"15.2\/IV\/54.1\/15.2-5431.33","metadata":false},{"id":55146,"structure_id":13386,"section_number":"15.2-5431.34","catch_line":"Use of state land","url":"\/15.2-5431.34\/","token":"15.2\/IV\/54.1\/15.2-5431.34","metadata":false},{"id":78387,"structure_id":13386,"section_number":"15.2-5431.35","catch_line":"Powers of localities to make grants and conveyances to and contracts with authority","url":"\/15.2-5431.35\/","token":"15.2\/IV\/54.1\/15.2-5431.35","metadata":false},{"id":78049,"structure_id":13386,"section_number":"15.2-5431.35:1","catch_line":"Creating or joining more than one authority","url":"\/15.2-5431.35_1\/","token":"15.2\/IV\/54.1\/15.2-5431.35_1","metadata":false},{"id":76332,"structure_id":13386,"section_number":"15.2-5431.36","catch_line":"Liability of members or officers","url":"\/15.2-5431.36\/","token":"15.2\/IV\/54.1\/15.2-5431.36","metadata":false},{"id":76654,"structure_id":13386,"section_number":"15.2-5431.37","catch_line":"Provisions of chapter cumulative; 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withdrawal from authority","url":"\/15.2-5431.9_1\/","token":"15.2\/IV\/54.1\/15.2-5431.9_1","metadata":false}],"previous_section":{"id":61001,"structure_id":13386,"section_number":"15.2-5431.8:1","catch_line":"Amendment of articles of incorporation","url":"\/15.2-5431.8_1\/","token":"15.2\/IV\/54.1\/15.2-5431.8_1","metadata":false},"next_section":{"id":79934,"structure_id":13386,"section_number":"15.2-5431.9:1","catch_line":"Joinder of another locality or authority; withdrawal from authority","url":"\/15.2-5431.9_1\/","token":"15.2\/IV\/54.1\/15.2-5431.9_1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5431.9\/","history_text":"

This law was first created in 2003. The record of its establishment is cataloged in chapter 643<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":70147,"section_number":"15.2-5431.11","catch_line":"Powers of authority","order_by":null,"url":"\/15.2-5431.11\/"},{"id":87499,"section_number":"15.2-5431.3","catch_line":"Creation of authority","order_by":null,"url":"\/15.2-5431.3\/"},{"id":87226,"section_number":"15.2-5431.6","catch_line":"Hearing; referendum","order_by":null,"url":"\/15.2-5431.6\/"}],"permalink":{"id":159471,"object_type":"law","relational_id":83003,"identifier":"15.2-5431.9","token":"15.2\/IV\/54.1\/15.2-5431.9","url":"\/15.2-5431.9\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5431.9\/","token":"15.2\/IV\/54.1\/15.2-5431.9","dublin_core":{"Title":"Dissolution and termination of authority","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5431.9","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Whenever the board of an authority<\/span> determines that the purposes for which it was created have been completed or are impractical or impossible and that all its obligations have been paid or have been assumed by one or more of such political subdivisions or any authority<\/span> created thereby or that cash or United States government securities have been deposited for their payment, it shall adopt and file with the governing body<\/span> a resolution declaring such facts<\/span>. If the governing body<\/span> adopts a resolution concurring in such declaration and finding<\/span> that the authority<\/span> should be dissolved, it shall file appropriate articles of dissolution with the State Corporation Commission. When the affairs of the authority<\/span> have been wound up and all of its assets<\/span> have been distributed, the governing bodies shall file appropriate articles of termination of corporate existence with the State Corporation Commission. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If any of the governing bodies refuses to adopt a resolution concurring in such declaration, then the authority<\/span> may petition<\/span> the circuit<\/span> court<\/span> for any locality<\/span> that is a member of the authority<\/span> to order<\/span> one or more of such governing bodies to create a new authority<\/span>. The circuit<\/span> court<\/span> may order<\/span> the governing body<\/span> of the political subdivision requesting dissolution of the existing authority<\/span> to adopt an ordinance<\/span> establishing a new authority<\/span> to which the provisions of §§ 15.2-5431.3<\/a> through 15.2-5431.6<\/a> shall not apply. Thereafter, the court<\/span> may order<\/span> that the assets<\/span> be divided among the authorities and, subject to the approval of any debt holder, require the assumption of a proportionate share of the obligations of the existing authority<\/span> by the new authority<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding the provisions of subdivision 1 of § 15.2-5431.11<\/a>, an authority<\/span> shall continue in existence and shall not be dissolved because the term for which it was created, including any extensions thereof, has expired, unless all of such authority<\/span>’s functions have been taken over and its obligations have been paid or have been assumed by one or more political subdivisions or by an authority<\/span> created thereby, or cash or United States government securities have been deposited for their payment. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISSOLUTION AND TERMINATION OF AUTHORITY (\u00a7 15.2-5431.9)\n\nA. Whenever the board of an authority determines that the purposes for which it\nwas created have been completed or are impractical or impossible and that all\nits obligations have been paid or have been assumed by one or more of such\npolitical subdivisions or any authority created thereby or that cash or United\nStates government securities have been deposited for their payment, it shall\nadopt and file with the governing body a resolution declaring such facts. If the\ngoverning body adopts a resolution concurring in such declaration and finding\nthat the authority should be dissolved, it shall file appropriate articles of\ndissolution with the State Corporation Commission. When the affairs of the\nauthority have been wound up and all of its assets have been distributed, the\ngoverning bodies shall file appropriate articles of termination of corporate\nexistence with the State Corporation Commission.\n\nB. If any of the governing bodies refuses to adopt a resolution concurring in\nsuch declaration, then the authority may petition the circuit court for any\nlocality that is a member of the authority to order one or more of such\ngoverning bodies to create a new authority. The circuit court may order the\ngoverning body of the political subdivision requesting dissolution of the\nexisting authority to adopt an ordinance establishing a new authority to which\nthe provisions of §§ 15.2-5431.3 through 15.2-5431.6 shall not apply.\nThereafter, the court may order that the assets be divided among the authorities\nand, subject to the approval of any debt holder, require the assumption of a\nproportionate share of the obligations of the existing authority by the new\nauthority.\n\nC. Notwithstanding the provisions of subdivision 1 of § 15.2-5431.11, an\nauthority shall continue in existence and shall not be dissolved because the\nterm for which it was created, including any extensions thereof, has expired,\nunless all of such authority’s functions have been taken over and its\nobligations have been paid or have been assumed by one or more political\nsubdivisions or by an authority created thereby, or cash or United States\ngovernment securities have been deposited for their payment.\n\nHISTORY: 2003, c. 643; 2021, Sp. Sess. I, c. 487.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}