Section 50-26-16. Termination of authority

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The authority and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the authority shall have bonds or other obligations outstanding, unless adequate provision has been made for the payment thereof. On termination of the existence of the authority, all its rights and properties shall pass to and be vested in the State of Georgia.

Code 1981, § 50-26-16, enacted by Ga. L. 1991, p. 1653, § 1-2.

                    
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