§ 285-714 — Dissolution
Revised Code of the Consolidated City and County of Indianapolis-Marion County (Supp. No. 47, Update 2: codified through Ordinance No. 42, 2026, passed June 1, 2026) · Indianapolis-Marion County Revised Code § 285-714
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Sec. 285-714. - Dissolution.
The housing development corporation affirmed by this article shall continue to exist until dissolved in accordance with the procedure prescribed by law. Dissolution proceedings may be initiated by a resolution adopted by the board of directors and approved by the city-county council, or by resolution adopted by the city-county council directing that the corporation be dissolved. In the event of dissolution, all funds and assets of the corporation remaining after payment of its debts and obligations shall be disposed of in accordance with any requirements of the law under which the housing development corporation is incorporated or in accordance with provisions contained in the articles of incorporation of the housing development corporation.
(Code 1975, § 24-29)