1. If a participating entity wishes to withdraw from an authority with regard to which there is more than one participating entity, the participating entity shall: (a) Adopt an ordinance providing for the withdrawal; (b) Obtain approval from the board; and (c) Give notice to the other participating entity or entities of its intent to withdraw, at least 6 months before the date on which the withdrawal would be effective. 2. Upon the withdrawal of a participating entity from the authority pursuant to subsection 1: (a) The boundaries of the inland port must be adjusted by the other participating entity or entities to comply with the provisions of NRS 277B.150; or (b) The authority must be dissolved pursuant to subsection 3 as soon as practicable. 3. An authority is dissolved if: (a) The dissolution is approved by the board; (b) Each participating entity agrees to the dissolution; (c) All debts and other liabilities of the authority have been paid or discharged, or adequate provision has been made for the payment of all debts and other liabilities; (d) There are no suits pending against the authority, or adequate provision has been made for the satisfaction of any judgment, order or been made for the payment of all debts and other liabilities; (d) There are no suits pending against the authority, or adequate provision has been made for the satisfaction of any judgment, order or decree that may be entered against the authority in any pending suit; and (e) The authority has a commitment from another governmental entity to assume jurisdiction of all property of the authority. (Added to NRS by 2011, 749)
Nevada Legal Code