Statutes > Iowa Statutes > Title 7 - Education and Cultural Affairs > Subtitle 6 - School Districts > CHAPTER 275 - REORGANIZATION OF SCHOOL DISTRICTS > 275.28 - PLAN OF DIVISION OF ASSETS AND LIABILITIES.

275.28 - PLAN OF DIVISION OF ASSETS AND LIABILITIES.

        275.28  PLAN OF DIVISION OF ASSETS AND LIABILITIES.
         In addition to setting up the territory to comprise the
      reorganized districts, a reorganization petition may provide for a
      division of assets and liabilities of the old districts between
      reorganized districts.  If no provision is made in the petition for
      division of assets and liabilities, or if territory is excluded from
      the reorganized district by the petition or by the area education
      agency board of directors, the division shall be made under the
      provisions of sections 275.29 to 275.31.
         Section History: Early Form
         [C46, 50, § 275.7; C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §
      275.28]
         Section History: Recent Form
         93 Acts, ch 160, § 8