N.Y. Transp. Law § 67

§ 67. Dissolution. The Utica transit authority may apply to the\nsupreme court in any county within the Utica transit authority's\njurisdiction for an order dissolving such authority. The court thereupon\nshall hold a hearing in open court after such notice of hearing as the\ncourt may require. Upon a showing to the satisfaction of the court that\nprovision has been made for the payment or satisfaction of all of the\noutstanding obligations of the Utica transit authority and for the\nnecessary expenses for the liquidation thereof, the court may order that\nthe Utica transit authority be dissolved. The court shall also provide\nfor disposition of the property of the Utica transit authority.\n