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§ 1058 — 1058 — U.S. Virgin Islands Law | CourtGPT
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U.S. Virgin Islands Legal Code

1058

U.S. Virgin Islands § 1058 — U.S. Virgin Islands law

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Subject to the provisions of title 13 chapter 1 of the Code, relating to dissolution and winding up the affairs of the corporation, by majority vote, the Board may dissolve the Corporation when the bonds, and all other obligations of the Corporation incurred with respect to the issuance of the bonds have been repaid or their repayment has been provided for fully, and adequate provision has been made for the payment of all other debts and obligations to any person or entity. Upon dissolution of the Corporation, all of the Corporation's rights and properties shall vest in and become the rights and property of the Government.