There is hereby created the Patriot's Point Development Authority, a body politic and corporate under the laws of this State, consisting of and governed by a board of nine members hereinafter referred to as the Authority. On June 30, 1983, the General Assembly may transfer the powers, responsibilities, liabilities and assets of the Authority to the Department of Parks, Recreation and Tourism; but no obligation or contract of the Authority shall be impaired by such transfer, and the full faith and credit of the State shall be given to assure the performance of obligations so transferred.

[From and after such time as all claims and litigation brought against the Patriot's Point Development Authority have been settled (see Editor's Note below), this section will read as follows:]

There is hereby created the Patriot's Point Development Authority, a body politic and corporate under the laws of this State, consisting of and governed by a board of five members hereinafter referred to as the authority.

HISTORY: 1962 Code Section 51-91; 1973 (58) 132; 1978 Act No. 427 Section 1; 1990 Act No. 349, Section 1 (for effective date, see Editor's Note below).