Section 157(2) in Tamil Nadu State Housing Board Act, 1961
(2)Upon the publication of a notification under sub-section (1) dissolving the Board-(a)the Chairman and all the members of the Board shall, as from the date of dissolution, vacate their offices as such;(b)all the powers and duties which may, by or under the provisions of this Act, be exercised and performed by or on behalf of the Board and the Chairman shall, as from the date of if solution, be exercised and performed by the Government or such authority or person as they may appoint in this behalf;(c)all funds and other property vested in the Board shall vest in the Government; and(d)all liabilities, legally subsisting and enforceable, against the Board shall be enforceable against the Government to the extent of the funds and properties vested in them.
