1. (a) On the date on which a dissolution under an ordinance adopted under section 3 of this chapter takes effect:

   1. (1) the reestablished township governments are established as separate entities;
   2. (2) the territory of the reestablished township government is the same as the territory that comprised the reestablished township government before the merger;
   3. (3) the agencies of the merged township government are abolished and the agencies of the reestablished township governments are established;
   4. (4) the functions of the abolished agencies are assigned to agencies of each reestablished township government;

   5. (5) the:

      1. (A) property;
      2. (B) records;
      3. (C) personnel;
      4. (D) rights; and

      5. (E) liabilities;

         related to the functions of the abolished agencies are assigned to agencies of the reestablished township governments; and

   6. (6) any bonds and other indebtedness of, or assumed by, the merged township government is the indebtedness of the reestablished township governments.
2. (b) The county legislative body shall determine the distribution of property, records, and personnel to the reestablished township governments under subsection (a)(5).

As added by P.L.240-2005, SEC.4.