Amendment status not verified — confirm the current text below against the official source.
Devolution of assets and liabilities of dissolved 3[* * *] municipality :– When a municipality is dissolved under Section 401 3[* * *] the State Government until the date of the reconstitution thereof and the reconstituted municipality thereafter, shall be entitled to all the assets and be subject to all the liabilities of the municipality as on the date of dissolution 3[* * *] and on the date of the reconstitution, respectively.