§ 14-312. Earnings; termination

Latest version.

The net earnings of an authority, aside from those necessary to pay debt service or to implement the public purposes of this subtitle, may not inure to the benefit of any person other than the county in which the authority is located. Upon termination of an authority, title to all its property shall vest in, and all obligations and assets of the authority shall be transferred to and assumed by, the county in which the authority is located.

HISTORY: 1984, ch. 697; 1986, ch. 5, § 4.

                    
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