BLAIR LEE III, Acting Governor

505

AFTER WRITTEN NOTICE THEREOF TO THE BOARD ACCOMPANIED BY A
CERTIFIED COPY OF THE REQUISITE LEGISLATIVE ACTION, BUT SUCH
WITHDRAWAL SHALL NOT RELIEVE THE WITHDRAWING STATE FROM ITS
OBLIGATIONS HEREUNDER ACCRUING UP TO THE EFFECTIVE DATE OF
SUCH WITHDRAWAL. ANY STATE SO WITHDRAWING SHALL IPSO FACTO
CEASE TO HAVE ANY CLAIM TO OR OWNERSHIP OF ANY OF THE
PROPERTY HELD OR VESTED IN THE BOARD OR TO ANY OF THE FUNDS
OF THE BOARD HELD UNDER THE TERMS OF THIS COMPACT.

(I) SUSPENSION OF STATE FOR DEFAULT; TERMINATION OF
COMPACT AS TO DEFAULTING STATE.

IF ANY STATE SHALL AT ANY TIME BECOME IN DEFAULT IN THE
PERFORMANCE OF ANY OF ITS OBLIGATIONS ASSUMED HEREIN OR WITH
RESPECT TO ANY OBLIGATION IMPOSED UPON SAID STATE AS
AUTHORIZED BY AND IN COMPLIANCE WITH THE TERMS AND
PROVISIONS OF THIS COMPACT, ALL RIGHTS, PRIVILEGES AND
BENEFITS OF SUCH DEFAULTING STATE, ITS MEMBERS ON THE BOARD
AND ITS CITIZENS SHALL IPSO FACTO BE AND BECOME SUSPENDED
FROM AND AFTER THE DATE OF SUCH DEFAULT. UNLESS SUCH
DEFAULT SHALL BE REMEDIED AND MADE GOOD WITHIN A PERIOD OF
ONE YEAR IMMEDIATELY FOLLOWING THE DATE OF SUCH DEFAULT THIS
COMPACT MAY BE TERMINATED WITH RESPECT TO SUCH DEFAULTING
STATE BY AN AFFIRMATIVE VOTE OF THREE FOURTHS OF THE MEMBERS
OF THE BOARD (EXCLUSIVE OF THE MEMBERS REPRESENTING THE
STATE IN DEFAULT), FROM AND AFTER WHICH TIME SUCH STATE
SHALL CEASE TO BE A PARTY TO THIS COMPACT AND SHALL HAVE NO
FURTHER CLAIM TO OR OWNERSHIP OF ANY OF THE PROPERTY HELD BY
OS VESTED IN THE BOARD OR TO ANY OF THE FUNDS OF THE BOARD
HELD UNDER THE TERMS OF THIS COMPACT, BUT SUCH TERMINATION
SHALL IN NO MANNER RELEASE SUCH DEFAULTING STATE FROM ANY
ACCRUED OBLIGATIONS OR OTHERWISE AFFECT THIS COMPACT OR THE
RIGHTS, DUTIES, PRIVILEGES OR OBLIGATIONS OF THE REMAINING
STATES THEREUNDER.

(J) APPROVAL AND SIGNATURES OF GOVERNORS.

IN WITNESS WHEREOF THIS COMPACT HAS BEEN APPROVED AND
SIGNED BY GOVERNORS OF THE SEVERAL STATES, SUBJECT TO THE
APPROVAL OF THEIR RESPECTIVE LEGISLATURES IN THE MANNER
HEREINABOVE SET OUT, AS OF THE 8TH DAY OF FEBRUARY, 1948.

STATE OF FLORIDA
BY MILLARD F. CALDWELL

GOVERNOR
STATE OF MARYLAND
BY WM. PRESTON LANE, JR.

GOVERNOR
STATE OF GEORGIA
BY M. E. THOMPSON

GOVERNOR
STATE OF LOUISIANA
BY J. H. DAVIS

GOVERNOR
STATE OF ALABAMA
BY JAMES E. FOLSOM

GOVERNOR
STATE OF MISSISSIPPI
BY F. L. WRIGHT