Sec. 13-1166. Dissolving the Authority
Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.
Prince George's County, Md., Code § 13-1166 (2026)
Sec. 13-1166. Dissolving the AuthorityLinkCopy Citation
(a)
To dissolve the Authority, the board must adopt a resolution to do so.
(b)
At least sixty (60) days before considering such a resolution, the board must:
(1)
Publish notice of its intent to dissolve in a newspaper of general circulation in Prince George's County.
(2)
Provide written notice to the Prince George's County Executive and County Council and
(3)
Send notice by certified mail to the trustees of any outstanding bonds.
(c)
Two-thirds (2/3) of the board's full membership must approve the resolution, which takes effect sixty (60) days after its adoption.
(d)
Upon liquidation, dissolution, or winding up of the Authority, after paying or making provision for all the Authority's liabilities, all remaining assets of the Authority shall be distributed, transferred, conveyed, delivered, and paid to Prince George's County, notwithstanding any provision to the contrary in the bylaws. No member, director, or officer of the authority, nor any private person, entity, or individual, shall be entitled to share in any of the corporate assets of the Authority.
(e)
Notwithstanding any provision of this Section to the contrary, the County may terminate the Authority pursuant to, and in accordance with the Annotated Code of Maryland Local Government Article Title 1, Subtitle 14.