1824                                          LAWS OF MARYLAND                                     Ch. 173

TO TERMINATE ITS EXISTENCE, AN AUTHORITY SHALL:

(1)  COMPLY WITH THE PROVISIONS OF THIS SECTION; AND

(2)  FILE ARTICLES OF DISSOLUTION FOR RECORD WITH THE
STATE DEPARTMENT OF ASSESSMENTS AND TAXATION.

(C)  SAME -- CONTENTS.

THE ARTICLES OF DISSOLUTION SHALL INCLUDE:

(1)  A STATEMENT THAT REQUESTS THE TERMINATION OF THE
EXISTENCE OF THE AUTHORITY;

(2)  A STATEMENT THAT THE AUTHORITY HAS:

(I)  PAID OR PROVIDED FOR PAYMENT OF THE
PRINCIPAL OF AND INTEREST ON EACH BOND THAT THE AUTHORITY ISSUED;
AND

(II)  SETTLED EACH OTHER CLAIM AGAINST THE
AUTHORITY; AND

(3)  THE SIGNATURES OF THE AUTHORIZED OFFICERS OF THE
AUTHORITY.

(D)  SAME -- APPROVAL BY STATE DEPARTMENT OF ASSESSMENTS AND
TAXATION.

(1)  IF THE ARTICLES OF DISSOLUTION COMPLY WITH THIS
SUBTITLE, THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION SHALL:

(I)  NOTE THE TERMINATION OF EXISTENCE OF THE
AUTHORITY ON THE RECORDS OF THE DEPARTMENT; AND

(II)  ISSUE A CERTIFICATE OF APPROVAL TO THE
BOARD OF DIRECTORS OF THE AUTHORITY.

(2)  ON APPROVAL OF THE ARTICLES OF DISSOLUTION BY THE
STATE DEPARTMENT OF ASSESSMENTS AND TAXATION, THE EXISTENCE OF
THE AUTHORITY ENDS.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second through
fifth sentences of former HE § 9-920.

In subsections (b) through (d) of this section, the
term "articles of dissolution" is substituted for the
former references to "certificate", for clarity to
conform to the provisions of CA §§ 3-406 and 3-407.

In subsection (b)(2) of this section, the reference to
filing articles of dissolution "for record" is new
language added for clarity to conform to CA § 1-301.