                                 CODE OF VIRGINIA

EFFECT OF ISSUANCE OF CERTIFICATE OF DISSOLUTION (§ 10.1-558)

Upon issuance of a certificate of dissolution, all ordinances and regulations
previously adopted and in force within such district shall be of no further
force. All contracts entered into, to which the district or district directors
are parties, shall remain in force for the period provided in the contracts. The
Board shall be substituted for the district or district directors as party to
the contracts. The Board shall be entitled to all benefits and subject to all
liabilities under the contracts and shall have the same right and liability to
perform, to require performance, to sue and be sued thereon, and to modify or
terminate such contracts by mutual consent or otherwise, as the district
directors would have had.

HISTORY: Code 1950, § 21-111; 1964, c. 512; 1970, c. 480; 1988, c. 891.