2006 Kentucky Revised Statutes - .570   Effect of discontinuance.

262.570 Effect of discontinuance. Upon issuance of a certificate of dissolution under KRS 262.560, all ordinances and regulations theretofore adopted and in force within those districts shall be of no further force and effect. All contracts theretofore entered into, to which the district is a party, shall remain in force and effect for the period provided in those contracts. The commission shall be substituted for the district as a party to such contracts. The commission shall be entitled to all benefits and subject to all duties and liabilities under such contracts which the board would have had. The dissolution shall not affect the lien of any judgment entered under KRS 262.440 or 262.450, nor the pendency of any action instituted under KRS 262.430, and the commission shall succeed to all the rights and obligations of the board as to those liens and actions. Effective: October 1, 1942 History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 42i-15.