Section 40:600.108 - Termination of corporationA. The corporation and its corporate and public existence shall continue until terminated by law, provided that no such law shall take effect so long as the corporation shall have bonds outstanding, unless adequate provision has been made for the payment thereof.B. Upon termination of the existence of the corporation, all of its rights, money, assets, and revenues in excess of its obligations shall pass to and be vested in the state.La. Public Health and Safety § 40:600.108
Acts 2011, No. 408, §1, eff. July 5, 2011. Acts 2011, No. 408, §1, eff. 7/5/2011.