{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5521.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5521.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5521.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5521.html"}],"law_id":348854,"edition_id":2,"section_id":348854,"structure_id":50007,"section_number":"15.2-5521","catch_line":"Dissolution of authority; disposition of property","history":"2007, c. 864.","full_text":"Whenever the board of directors of the authority by resolution determines that the purposes for which the authority was formed have been substantially complied with, the then members of the board of directors of the authority shall thereupon execute and file for record with the governing body of the locality that created the authority, a resolution declaring such facts. If the governing body of the locality that created the authority is of the opinion that the facts stated in the authority’s resolution are true and that the authority should be dissolved, it shall so resolve and the authority shall stand dissolved. Upon such dissolution, the title to all funds and properties owned by the authority at the time of such dissolution shall vest in the locality creating the authority and possession of such funds and properties shall forthwith be delivered to such locality.\n\n","order_by":null,"text":{"0":{"id":1300342,"text":"Whenever the board of directors of the authority by resolution determines that the purposes for which the authority was formed have been substantially complied with, the then members of the board of directors of the authority shall thereupon execute and file for record with the governing body of the locality that created the authority, a resolution declaring such facts. If the governing body of the locality that created the authority is of the opinion that the facts stated in the authority’s resolution are true and that the authority should be dissolved, it shall so resolve and the authority shall stand dissolved. Upon such dissolution, the title to all funds and properties owned by the authority at the time of such dissolution shall vest in the locality creating the authority and possession of such funds and properties shall forthwith be delivered to such locality.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":50007,"edition_id":2,"name":"Tourism Financing Development Authority Act","identifier":"55.2","label":"chapter","depth":3,"order_by":17,"parent_id":49964,"metadata":{"child_laws":7,"child_structures":0},"date_created":"2026-08-02 02:20:06","date_modified":"2026-08-02 12:29:53","permalink":{"id":1386549,"object_type":"structure","relational_id":50007,"identifier":"55.2","token":"15.2\/IV\/55.2","url":"\/15.2\/IV\/55.2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49964,"edition_id":2,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":4,"parent_id":49831,"metadata":{"child_laws":721,"child_structures":68},"date_created":"2026-08-02 02:19:12","date_modified":"2026-08-02 12:29:48","permalink":{"id":1384899,"object_type":"structure","relational_id":49964,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49831,"edition_id":2,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":46,"parent_id":null,"metadata":{"child_laws":2297,"child_structures":225},"date_created":"2026-08-02 02:16:22","date_modified":"2026-08-02 12:29:22","permalink":{"id":1378281,"object_type":"structure","relational_id":49831,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":348849,"structure_id":50007,"section_number":"15.2-5516","catch_line":"Short title","url":"\/15.2-5516\/","token":"15.2\/IV\/55.2\/15.2-5516","metadata":false},{"id":348850,"structure_id":50007,"section_number":"15.2-5517","catch_line":"One or more localities may create authority","url":"\/15.2-5517\/","token":"15.2\/IV\/55.2\/15.2-5517","metadata":false},{"id":348851,"structure_id":50007,"section_number":"15.2-5518","catch_line":"Directors; qualifications; terms; vacancies; compensation and expenses; quorum; records","url":"\/15.2-5518\/","token":"15.2\/IV\/55.2\/15.2-5518","metadata":false},{"id":348852,"structure_id":50007,"section_number":"15.2-5519","catch_line":"Powers of authority","url":"\/15.2-5519\/","token":"15.2\/IV\/55.2\/15.2-5519","metadata":false},{"id":348853,"structure_id":50007,"section_number":"15.2-5520","catch_line":"Liability of authority","url":"\/15.2-5520\/","token":"15.2\/IV\/55.2\/15.2-5520","metadata":false},{"id":348854,"structure_id":50007,"section_number":"15.2-5521","catch_line":"Dissolution of authority; disposition of property","url":"\/15.2-5521\/","token":"15.2\/IV\/55.2\/15.2-5521","metadata":false},{"id":348855,"structure_id":50007,"section_number":"15.2-5522","catch_line":"Provisions of chapter controlling over other statutes and charters","url":"\/15.2-5522\/","token":"15.2\/IV\/55.2\/15.2-5522","metadata":false}],"previous_section":{"id":348853,"structure_id":50007,"section_number":"15.2-5520","catch_line":"Liability of authority","url":"\/15.2-5520\/","token":"15.2\/IV\/55.2\/15.2-5520","metadata":false},"next_section":{"id":348855,"structure_id":50007,"section_number":"15.2-5522","catch_line":"Provisions of chapter controlling over other statutes and charters","url":"\/15.2-5522\/","token":"15.2\/IV\/55.2\/15.2-5522","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5521\/","history_text":"

This law was first created in 2007. The record of its establishment is cataloged in chapter 864<\/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":false,"permalink":{"id":1386571,"object_type":"law","relational_id":348854,"identifier":"15.2-5521","token":"15.2\/IV\/55.2\/15.2-5521","url":"\/15.2-5521\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5521\/","token":"15.2\/IV\/55.2\/15.2-5521","dublin_core":{"Title":"Dissolution of authority; disposition of property","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5521","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Whenever the board of directors of the authority by resolution determines that the purposes for which the authority was formed have been substantially complied with, the then members of the board of directors of the authority shall thereupon execute and file for record with the governing body<\/span> of the locality<\/span> that created the authority, a resolution declaring such facts<\/span>. If the governing body<\/span> of the locality<\/span> that created the authority is of the opinion<\/span> that the facts<\/span> stated in the authority’s resolution are true and that the authority should be dissolved, it shall so resolve and the authority shall stand dissolved. Upon such dissolution, the title to all funds and properties owned by the authority at the time of such dissolution shall vest in the locality<\/span> creating the authority and possession<\/span> of such funds and properties shall forthwith be delivered to such locality<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISSOLUTION OF AUTHORITY; DISPOSITION OF PROPERTY (\u00a7 15.2-5521)\n\nWhenever the board of directors of the authority by resolution determines that\nthe purposes for which the authority was formed have been substantially complied\nwith, the then members of the board of directors of the authority shall\nthereupon execute and file for record with the governing body of the locality\nthat created the authority, a resolution declaring such facts. If the governing\nbody of the locality that created the authority is of the opinion that the facts\nstated in the authority’s resolution are true and that the authority\nshould be dissolved, it shall so resolve and the authority shall stand\ndissolved. Upon such dissolution, the title to all funds and properties owned by\nthe authority at the time of such dissolution shall vest in the locality\ncreating the authority and possession of such funds and properties shall\nforthwith be delivered to such locality.\n\nHISTORY: 2007, c. 864.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}