Amendment status not verified — confirm the current text below against the official source.
Dissolution of Board. - (1) The State Government may, by notification, declare that, with effect from such date as may be specified in the notification, the Board shall stand dissolved. (2) With effect from the date specified in the notification under sub-section (1), - (a) all properties, funds and dues which are vested in and realisable by the Board shall vest in and be realisable by the State Government; (b) all liabilities enforceable against the Board shall be enforceable against the State Government to the extent of the properties, funds, dues vested in and realised by the State Government. (3) Nothing in this section shall affect the liability of the State Government in respect of loans or debentures guaranteed under section 24.