Pennsylvania Statutes Title 35 P.S. Health and Safety § 751.15. Transfer of Water Facilities Loan Board

(a) Removal of members.--All existing members of the Water Facilities Loan Board shall cease to hold office on the day that the Governor certifies by publication in the Pennsylvania Bulletin the existence of a quorum on the board created under section 4.  1

(b) Board of directors to serve as Water Facilities Loan Board.--For purposes of satisfying all outstanding obligations of the Water Facilities Loan Board and for purposes of collecting loan and interest repayments, the board established in section 4 shall constitute the membership of the Water Facilities Loan Board.

(c) Transfer of function.--All remaining unencumbered funds, rights, powers, duties, obligations, liabilities, records and equipment of the Water Facilities Loan Board are transferred to the authority.