The corporation and its corporate existence shall continue until terminated by law, provided that no such law shall take effect so long as the corporation shall have bonds outstanding, unless adequate provision has been made for the payment thereof. Upon termination of the existence of the corporation, all its rights and properties in excess of its obligations shall pass to and be vested in the state.
Fla. Stat. § 420.514
Corporate existence
Known as the Neighborhood Housing Services Act
The act spans §§ 420.0001 to 420.9089 (98 sections).
History.--s. 1, ch. 80-161; s. 24, ch. 97-167.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.