17D-2-701. Local entity governing body may dissolve local building authority -- Limitation.
(1) Subject to Subsection, the governing body of the creating local entity may at any time dissolve a local building authority created by the creating local entity, by following the procedures in, for the dissolution of a nonprofit corporation. (2) Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act
(2) A creating local entity's governing body may not dissolve a local building authority unless: the principal, interest, and any redemption premium on all outstanding bonds of the local building authority are paid in full; and all other obligations of the local building authority are paid in full; or the local building authority has made provision for the payment, when due, of all bond and other obligations described in Subsection. (2)(a)