Virginia § 10.1-1623 - Dissolution of Authority; disposition of property
Full text of Virginia Code of Virginia § 10.1-1623 — Dissolution of Authority; disposition of property, with citation guidance and answers to common questions.
§ 10.1-1623. Dissolution of Authority; disposition of property
A. Notwithstanding any contrary provision of this chapter, whenever the Board determines by resolution that it is in the best interest of those served by the Authority to divest itself of property owned by the Authority, the Authority may transfer all such property to the locality in which the majority of such property is located.
B. Whenever the Board determines by resolution that (i) the purposes for which the Authority was formed have been substantially complied with, (ii) all property of the Authority has been transferred pursuant to this chapter, and (iii) all bonds therefor issued and all obligations theretofore incurred by the Authority have been fully paid or adequate provisions have been made for the payment, the Board may dissolve itself upon a majority vote of the Board.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 10.1-1623
What does Code of Virginia § 10.1-1623 cover?
Section 10.1-1623 ("Dissolution of Authority; disposition of property") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 10.1-1623?
A common citation format is "Code of Virginia § 10.1-1623" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 10.1-1623 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.