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2009 Nebraska Code
Chapter 58 MONEY AND FINANCING
58-443 Research and Development Authority; dissolution; effect.

58-443. Research and Development Authority; dissolution; effect.

(1) The Research and Development Authority, created pursuant to section 58-403, as such section existed prior to September 1, 2001, is hereby dissolved. Any assets of the authority remaining upon such dissolution which are pledged to outstanding indebtedness of the authority shall, upon the consent of the holders of the respective indebtedness, be immediately transferred, free and clear, to the holder of such indebtedness in satisfaction of such indebtedness.

(2) The business development corporation formed pursuant to section 58-440 shall no longer be required to include representatives of the authority. All interest of the authority in such business development corporation shall be transferred to the North Omaha Business Development Corporation, the business development corporation formed pursuant to section 58-440, as such section existed prior to September 1, 2001.

Source
    Laws 2001, LB 300, ยง 1.



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