If the Authority is dissolved by repeal of this chapter or ceases to exist for any other reason, all of its assets (including cash, accounts receivable, reserve funds, real or personal property, and contract and other rights) shall become the property of the District. In such event, no funds in the Fund shall be deposited into any District fund or account without the prior written approval of HUD; provided, that in the event of such approval, all such funds shall be deposited and maintained in an account or accounts separate from the General Fund of the District.
‹ Prev All District Of Columbia sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.