N.Y. Municipal Housing Authorities Law § 76: Dissolution

* § 76. Dissolution. An authority or the city may apply to the supreme

court in any county in which the city or any part thereof is located,

for an order dissolving the authority. The court thereupon shall hold a

hearing in open court after such notice of hearing as the court may

require. Upon a showing to the satisfaction of the court that provision

has been made for the payment or satisfaction of all of the outstanding

obligations of the authority and for the necessary expenses for the

liquidation thereof, the court may order that the authority be

dissolved. Upon such dissolution the property of the authority shall be

and become the property of the city.

* NB The text of Article 5 of the former State Housing Law (cited

herein as the "Municipal Housing Authorities Law"), as such article

existed immediately prior to its repeal pursuant to section 227 of

Chapter 808 of the Laws of 1939, is provided here for ease of reference

and historical purposes as such text continues to be applicable for the

New York City Housing Authority pursuant to the provisions of section

401 of the current Public Housing Law.