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A. A locality may withdraw from the Commission one year after providing written notice to the Commission of its intent to do so.
B. The Commission may be dissolved (i) upon three-fourths vote of its members, (ii) if the membership falls below three-fourths of the number of localities eligible for membership in the Commission, or (iii) by repeal or expiration of this chapter.
C. Upon the Commission's dissolution, all funds and assets of the Commission, including funds received from private sources, shall be divided and distributed on a pro rata basis to the member local governing bodies. All state funds and assets, if any, shall be transferred to the Office of the Secretary of Natural Resources for appropriate distribution.
Cite this article: FindLaw.com - Virginia Code Title 62.1. Waters of the State, Ports and Harbors § 62.1-69.52. Withdrawal; dissolution - last updated January 01, 2020 | https://codes.findlaw.com/va/title-62-1-waters-of-the-state-ports-and-harbors/va-code-sect-62-1-69-52/
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