Laws of New York (Last Updated: November 21, 2014)

Section 67. Dissolution

Latest version.

The  Utica  transit  authority  may  apply  to the
  supreme court  in  any  county  within  the  Utica  transit  authority's
  jurisdiction for an order dissolving such authority. The court thereupon
  shall  hold  a hearing in open court after such notice of hearing as the
  court may require. Upon a showing to the satisfaction of the court  that
  provision  has  been  made for the payment or satisfaction of all of the
  outstanding obligations of the  Utica  transit  authority  and  for  the
  necessary expenses for the liquidation thereof, the court may order that
  the  Utica  transit authority be dissolved. The court shall also provide
  for disposition of the property of the Utica transit authority.

                    
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