DISSOLUTION OF AGENCY. The board of directors may choose to terminate the Authority under the rules and bylaws prescribed by the board. Upon termination, the Authority shall dissolve and the affairs of the Authority shall be wound up as herein provided. The winding up of the affairs of the Authority and the distribution of its assets shall be conducted by the board of directors as follows:
DISSOLUTION OF AGENCY. Upon dissolution of the Agency, there shall be a partial or complete distribution of assets and liabilities as follows:
a) Upon termination of the Agency, all funds including the proceeds of the sale of property, in the possession of the Agency after payment of all costs, expenses, and charges validly incurred under this Agreement, shall be returned to the MEMBERS in proportion to their contribution as shall be determined by the Board.
