Any such agreement shall specify the following:
- (1) Its duration;
- (2) The precise organization, composition, and nature of any separate legal or administrative entity created thereby together with the powers delegated thereto, provided such entity may be legally created;
- (3) Its purpose or purposes;
- (4) The manner of financing the joint or cooperative undertaking and of establishing and maintaining a budget therefor;
- (5) The permissible method or methods to be employed in accomplishing the partial or complete termination of the agreement and for disposing of property upon such partial or complete termination; and
- (6) Any other necessary and proper matters.
Source: SL 1966, ch 187 , § 4.