Current as of January 01, 2018 | Updated by FindLaw Staff
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(1) Beginning on the date of the adoption of the resolution creating any district, the district shall be a public corporation in perpetuity under its corporate name and shall, in that name, be a body politic and corporate with power of perpetual succession.
(2) If the creation of the district is initiated in accordance with Section 19-5-153(3), all assets and liabilities of the nonprofit, nonshare corporation shall become the assets and liabilities of the newly organized district without any further meetings, voting, notice to creditors or actions by members of the board beginning on the date of adoption of the resolution of the board of supervisors creating the district.
Cite this article: FindLaw.com - Mississippi Code Title 19. Counties and County Officers § 19-5-165. Public corporation; newly formed water district assets and liabilities - last updated January 01, 2018 | https://codes.findlaw.com/ms/title-19-counties-and-county-officers/ms-code-sect-19-5-165/
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