{"data":{"id":"us-ky/krs-65.550","jurisdiction":"us-ky","citation":"KRS 65.550","heading":"Withdrawal of city or county -- Successors -- Agreed dissolution.","body":"(1) In the event that a joint riverport authority is created by cities and/or counties, and\nthereafter a city or cities or county or counties desire to withdraw from\nparticipation, then the remaining participants may jointly choose a successor\nmember or member s of the authority. No such withdrawing city or cities or county\nor counties shall be entitled to the return of any money or property advanced such\nauthority.\n(2) Notwithstanding the provisions of subsection (1), any cities and/or counties which\nhave established a joint riverport authority as provided for herein, may provide by a\nmutual written agreement between such cities and/or counties, and the joint\nriverport authority, that such joint riverport authority may be dissolved and may\nfurther provide that upon such complete termination, all funds, property and other\nassets held by the joint riverport authority shall be returned to such cities and/or\ncounties in the same proportion as contributions of funds, property and other assets\nwere made by such cities  and/or counties. This section shall not apply and no\ndissolution shall be made until such time as all legal obligations of the joint\nriverport authority shall be satisfied and all existing commitments fulfilled.","path":["KRS Chapter 65"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23427","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:21Z","sha256":"fa424bff4d39b0386add1d590e688d7a6283db1bc4f623ed290bdf12a81af943","source_id":"us-ky","stale":false,"prev":"us-ky/krs-65.540","next":"us-ky/krs-65.560"},"notice":"GroundRules: Original legal text. Not legal advice."}