Sec. 370.332. INVOLUNTARY DISSOLUTION. (a) The commission by order may require an authority to dissolve if the commission determines that the authority has not substantially complied with the requirements of a commission rule or an agreement between the department and the authority. (b) The commission may not require dissolution unless: (1) the conditions described in Sections 370.331 (c)(1) and (2) have been met; and (2) the holders of any indebtedness have evidenced their agreement to the dissolution.
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